Saudi Aramco Shares Inch Up Despite Net Profit Drop : vimars

Saudi Aramco Shares Inch Up Despite Net Profit Drop

Saudi Aramco on Tuesday reported a 23% fall in third-quarter net profit on the back of lower oil prices and volumes sold, marginally beating analyst estimates and helping prop up its shares in early trade. Aramco issued the results of the third quarter of 2023, which show that the company's net income amounted to SAR122.2 billion ($32.6 billion) in the period, compared to SAR159.1 billion ($42.4 billion) in Q3 of 2022.

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