Gulf Q2 corporate earnings split as oil-rich markets surge and others feel war strain

Listed companies in Saudi Arabia and Abu Dhabi posted rapid profit growth, helped by rising oil prices and uninterrupted energy exports. In contrast, firms in Bahrain, Dubai and Qatar remained profitable but saw earnings squeezed by reduced trade, travel and gas shipments linked to the ongoing Iran conflict. Aramco alone generated $32.3 billion, accounting for about 43 % of the region’s total listed-company profit of $74.8 billion, according to Kuwait-based asset manager KAMCO Invest. Kuwait, despite being hit hard by Iranian strikes, recorded a sharp earnings rise driven by a low base and one-off gains in banking and telecoms rather than broader economic strength.