Higher oil prices and export rerouting drove Saudi Aramco’s quarterly profit above analyst estimates of $31 billion.
Saudi Aramco reported a 33% year-over-year increase in adjusted net income for the second quarter, reaching $33.385 billion. The gain was fueled by surging oil prices and the company’s ability to redirect crude exports despite constraints at the Strait of Hormuz.
The result surpassed the $25.19 billion profit recorded in the same period last year and exceeded analyst expectations of around $31 billion. Aramco’s average realized crude oil price rose to $108.1, supporting earnings growth.
The company did not disclose immediate market reactions, but the strong earnings print highlights resilience amid geopolitical supply risks.