Saudi Aramco (aka Saudi Arabian Oil Co - 2222) reported results for the second quarter of 2022 that reached record levels in its brief history as a public company. Similar to its smaller integrated oil peers, soaring oil prices fell to the company’s bottom line and cash balances continued to build on the balance sheet.
The US$48.4 billion in net income in Aramco’s Q2 was nearly three times the adjusted net income for ExxonMobil and twice the combined income of Chevron and Shell. But with oil prices now starting to slide, many investors in the stock will be wondering whether the Saudi energy mega stock can keep this up? We take a look at the numbers.
Want the full story? Access all of The Armchair Trader's content for just £5.99 per month.
Get weekly investment ideas and tips that will take your investing to the next level. Sign up here.
Free 28 day trial. Cancel anytime.
Log In or Sign Up to Armchair Trader+Already a member? Log in here:
Not a member? Sign up now or see the membership benefits
Further content of this article is not available as it is for members only. Please visit the registration page for Armchair Trader Plus+ for further details on the benefits of becoming a member.
