Saudi Aramco posts biggest quarterly profit of any listed company

Saudi Aramco posted the biggest quarterly adjusted profit of any listed company globally driven by high crude prices and production.

Aramco followed big oil rivals reporting a surge in profits. Net income rose to $48.4 billion in the second quarter, up from $25.5 billion a year earlier, the state-controlled company said on Sunday. Its free cash flow rose by 53% from a year earlier to $34.6 billion.

The company is using the windfall to reduce debt and invest in a huge expansion of its…