5/4, 8:18 AM (Source: TeleTrader)
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S. Aramco's profit surges 30% to $21.7B in Q1

Saudi Arabia's oil giant Saudi Aramco announced on Tuesday that its net income in the first quarter of 2021 stood at $21.7 billion, jumping 30% compared to the same period in 2020 and topping estimates.

Total revenue came in at $80 billion, rising 20% year on year, while earnings per share (EPS) climbed 25% to $0.10.

"The momentum provided by the global economic recovery has strengthened energy markets, and Aramco’s operational flexibility, financial agility and the resilience of our employees have contributed to a strong first-quarter performance," CEO Amin Nasser stated.

Breaking the News / NP