24 Hrs
Source:
الاقتصادية
TASI firms' quarterly profits meet expectations
The Saudi Companies Earnings Season for the Second Quarter of 2026 has come to an end, with listed companies on the Tadawul Market, excluding Aramco, recording record profits of approximately 49 billion Riyals—a 25% increase year-over-year and a 4.5% rise compared to the previous quarter. Including Aramco's profits, which totaled 121.5 billion Riyals, the market’s total earnings reached around 170.5 billion Riyals, marking a 36.9% year-over-year increase. The earnings season was characterized by 51% of companies surpassing analyst expectations, with notable positive surprises especially from Aramco, whose profits exceeded forecasts by 29.5 billion Riyals. Conversely, most other companies reported results below expectations, highlighting the significance of the source and size of profits in evaluating the season. The banking sector achieved record profits with a growth rate of 4.5%, slightly exceeding expectations, while the pharmaceutical sector's results were close to projections. However, the quality of these results depends on the magnitude of surprises and the percentage deviation from forecasts.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)