Members of media chat before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019.
Hamad I Mohammed | Reuters
Saudi Aramco’s first-quarter net profit fell 5% year-on-year amid lower oil prices and production.
Net income for the three months to March 31 came in at $26 billion, down from $27.3 billion for the same period last year, the company reported. The figure was slightly above analyst expectations of $25.3 billion.
Aramco announced its free cash flow for the quarter at $19.2 billion, down from $22.8 billion in the first quarter of 2024, and cash flow from operating activities at $31.7 billion compared to last year’s $33.6 billion.
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