Per Reuters
Saudi Aramco Jumps 39% in Net Income, Exceeding Forecast by Almost a Billion
11/1/2022
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Aramco, the state oil producer of Saudi Arabia, beat forecasts with a 39% jump in Q3 net income. It also reported that free cash flow leaps from $28.7 billion a year ago to $45 billion.
Aramco's net income increased to $42.4 billion for the three months to Sept 30 compared to $30.4 billion a year ago. Sixteen analysts placed the company's median forecast at $41.7 billion.
The company declared an $18.8 billion dividend in the third quarter, expected to be paid out in the fourth quarter. Aramco joins Chevron, Exxon Mobil Corp, and BP, all of which have recently reported strong or record-breaking results.
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