Higher oil prices lifted Saudi Aramco’s net profits from their Q2 low last quarter. Q3 net income of $32.58bn exceeded analyst expectations of $31.58bn, and was the strongest quarterly performance since the same period in 2022.
“Our robust financial results reinforce Aramco’s ability to generate consistent value for our shareholders, and we continue to identify new opportunities to evolve our business and meet the needs of customers,” CEO Amin Nasser said of the results. Q3 was certainly a notable period for Aramco, which put in place a number of key building blocks which stand to generate crucial new revenue streams in the years ahead. (CONTINUED - 827 WORDS)