24 Hrs
Source:
الاقتصادية
Aramco day sees lowest results this season
The Saudi market experienced today, Tuesday, the highest daily number of companies reporting decreased profits since the start of the earnings season in early July, coinciding with Aramco's announcement of its second-quarter results. Among 115 financial disclosures, 43 companies reported losses or declines in profits, representing about 37% of the total. Additionally, 53% of the companies showed weaker results, marking the highest level since the season began. Conversely, Aramco's earnings increased by approximately 42% compared to last year and exceeded expectations, making it an exception in a market witnessing widespread declines. The drop in results among many companies has raised questions about the timing of these disclosures and their impact when coinciding with Aramco's positive results.
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