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Shell misses fourth-quarter estimates after $500 mln of impairments

LONDON, Feb 2 (Reuters) - Royal Dutch Shell, Europe’s largest oil major, missed analysts’ profit expectations for the fourth quarter after booking $500 million of impairments.

Shell’s cost of supplies excluding identified items, its preferred way of measuring profit, was $1.8 billion in the fourth quarter, against analyst expectations of $2.8 billion.

“Earnings were impacted by charges of $0.5 billion related to deferred tax reassessments which were not included as identified items,” the company said.

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