Saudi Aramco Profits Drop 19% but Still Beat Expectations

Saudi Aramco reported first-quarter earnings of $31.9 billion, down 19% from a year earlier due to lower oil prices but still higher than analyst estimates.
Aramco will pay $19.5 billion in dividends for the quarter, with potentially more performance-based dividends to come.
Aramco's CEO said oil demand should remain strong this year given growth in China and India.
Aramco is investing to boost output and lock up markets in Asia through refining and chemical deals.
Falling crude prices and the weak global economy contributed to Aramco's decline in earnings.