diff --git a/src/main.rs b/src/main.rs
index 5620d851e..3e77ddbc2 100644
--- a/src/main.rs
+++ b/src/main.rs
@@ -147,9 +147,23 @@ fn test_run_script() {
 fn shell_exec(vm: &VirtualMachine, source: &str, scope: Scope) -> Result<(), CompileError> {
     match compile::compile(vm, source, &compile::Mode::Single, "<stdin>".to_string()) {
         Ok(code) => {
-            if let Err(err) = vm.run_code_obj(code, scope) {
-                print_exception(vm, &err);
+            match vm.run_code_obj(code, scope.clone()) {
+                Ok(value) => {
+                    // Save non-None values as "_"
+
+                    use rustpython_vm::pyobject::{IdProtocol, IntoPyObject, ItemProtocol};
+
+                    if !value.is(&vm.get_none()) {
+                        let key = objstr::PyString::from("_").into_pyobject(vm);
+                        scope.globals.set_item(key, value, vm).unwrap();
+                    }
+                }
+
+                Err(err) => {
+                    print_exception(vm, &err);
+                }
             }
+
             Ok(())
         }
         // Don't inject syntax errors for line continuation
diff --git a/vm/src/compile.rs b/vm/src/compile.rs
index 76744f112..36b4c3ce7 100644
--- a/vm/src/compile.rs
+++ b/vm/src/compile.rs
@@ -130,18 +130,35 @@ impl Compiler {
         symbol_scope: SymbolScope,
     ) -> Result<(), CompileError> {
         self.scope_stack.push(symbol_scope);
-        for statement in &program.statements {
+
+        let mut emitted_return = false;
+
+        for (i, statement) in program.statements.iter().enumerate() {
+            let is_last = i == program.statements.len() - 1;
+
             if let ast::Statement::Expression { ref expression } = statement.node {
                 self.compile_expression(expression)?;
-                self.emit(Instruction::PrintExpr);
+
+                if is_last {
+                    self.emit(Instruction::Duplicate);
+                    self.emit(Instruction::PrintExpr);
+                    self.emit(Instruction::ReturnValue);
+                    emitted_return = true;
+                } else {
+                    self.emit(Instruction::PrintExpr);
+                }
             } else {
                 self.compile_statement(&statement)?;
             }
         }
-        self.emit(Instruction::LoadConst {
-            value: bytecode::Constant::None,
-        });
-        self.emit(Instruction::ReturnValue);
+
+        if !emitted_return {
+            self.emit(Instruction::LoadConst {
+                value: bytecode::Constant::None,
+            });
+            self.emit(Instruction::ReturnValue);
+        }
+
         Ok(())
     }