DUBAI (Reuters) – Saudi Aramco on Tuesday reported a 23% fall in third quarter net profit, marginally beating analyst’s estimates, on lower crude oil prices and volumes sold.
Net profit declined to $32.6 billion for the quarter to Sept. 30 from $42.4 billion a year earlier.
Analysts had expected a net profit of $31.8 billion in the third quarter, according to the median estimate from 12 analysts.
(Reporting by Yousef Saba and Hadeel Al Sayegh; Editing by Kim Coghill)
