Saudi Aramco Q1 Profit Dives, Says Virus to Hit 2020 Results
Energy giant Saudi Aramco on Tuesday reported a 25 percent slump in first-quarter net profits due to low oil prices, and said the coronavirus crisis will dampen demand and earnings in the year ahead.
The world's largest listed firm said it posted a net profit of 62.5 billion riyals ($16.66 billion) in the first three months of the year, compared to $22.2 billion a year earlier.
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