GCC Companies Post Record Profit Growth Amid Geopolitical Tensions

GCC companies reported a record Q2 profit growth, driven by higher crude oil prices amid regional geopolitical tensions. Companies listed on GCC exchanges saw aggregate net profits rise to $74.8 billion in the second quarter of 2026, up 31.3% from last year and 10% from the previous quarter.

Kuwait led the country-level profit growth, with companies posting a nearly double-digit increase in their aggregate net profit to $3.1 billion. Saudi Arabia followed closely, with Saudi Aramco's revenue rising 28.1% year-on-year.

The energy sector posted strong growth, with 20 of 31 listed companies reporting higher year-on-year profits. However, the regional geopolitical situation weighed on earnings growth, which moderated during the quarter.