​Shell's earnings slide 58 percent

LONDON - Royal Dutch Shell (RDS.A) says first-quarter earnings fell 58 percent as depressed oil prices continued to take a toll on the global energy giant.

The Anglo-Dutch company said Wednesday that profit, adjusted for changes in the value of inventories and excluding one-time items, dropped to $1.55 billion from $3.74 billion in the same period in 2015.

The results came after Shell sealed a $54 billion takeover of BG Group Plc earlier this year. Critics have questioned whether the deal makes sense following the drop in oil prices.

Net income fell 89 percent to $484 million.

Brent crude, the benchmark for international oil, dropped to a 12-year low of $27.10 a barrel in January, after trading above $100 as recently as September 2014. It traded at $45.40 on Tuesday.