Saudi Aramco Q2 profit soars on higher prices, demand recovery
DUBAI, Aug 8 (Reuters) - Saudi Arabian state oil producer Aramco on Sunday reported a nearly four-times rise in second-quarter net profit, boosted by higher oil prices and a recovery on oil demand.
Net income rose to 95.47 billion riyals ($25.46 billion) for the quarter to June 30 from 24.62 billion riyals a year earlier.
Analysts had expected a net profit of $23.2 billion, according to the mean estimate from five analysts. ($1 = 3.7501 riyals) (Reporting by Hadeel Al Sayegh and Saeed Azhar Editing by Raissa Kasolowsky)
