Aramco posts Q1 profits, beats expectations
- Date: 09-May-2023
- Source: Al Bawaba
- Sector:Oil & Gas
- Country:Saudi Arabia
Aramco posts Q1 profits, beats expectations
ALBAWABA – Saudi oil giant Aramco posted the financial report for the first quarter of the year 2023 (Q1-2023), citing a 19 percent decline in net income compared to the same period in 2022, as reported by CNBC.
In Q1-2022, the company made $39.5 billion in profits, compared to $31.9 billion by the end of March this year.
Notably, Reuters analysts forecasted the Saudi oil company’s profits would decline in the first three months of the year to around $30.5 billion.
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