Dubai, UAE—Saudi Aramco is the world’s largest oil producer and the world’s most profitable company. Though primarily owned by the state, the energy giant raised $29.4 billion in an Initial Public Offering in 2019. In September 2022, the market cap of Aramco ($1.99 trillion) was ahead of Microsoft ($1.77 trillion) and only behind Apple ($2.42 trillion) in terms of market capitalization. TRENDS takes a look at the development:
Etihad reports record Q1 profit
Total revenue increased by $269 million in the same period.
Aramco Q1 profit down 14.5%
Despite lower profit, it will pay $31bn in dividends to Saudi government.
IHC Q1 net profit $2.17bn
The company launches Share Buyback Programme
Amazon triples quarterly profit
The company's cloud, ads, and retail businesses thrive.
McDonald’s profits up 7%
The quarterly profits increased despite weak Middle East sales.