Saudi Aramco profit jumps 90%, Tesla surpasses 3 million EVs, Facebook teams up with DoorDash

Yahoo Finance's Julie Hyman breaks down top business stories on Saudi Aramco earnings, Tesla production, and Facebook marketplace.

Video Transcript


Other headlines we're watching right now, Saudi Aramco saw a 90% jump in quarterly profit, marking its highest quarterly net income since going public in 2019. The profit happening, of course, on the back of higher crude oil prices, as Saudi Aramco generates billions in cash for the Saudi Arabian government. In the second quarter alone, Saudi Arabia's GDP grew 11.8% year over year. By the way, Aramco also did not raise its dividend as a part of this big earnings report.

Tesla has officially passed the 3 million vehicle mark for production. That's according to a tweet from CEO Elon Musk. Musk congratulated the Giga Shanghai factory for making its one millionth car over the weekend. This follows months of shortages and lockdowns in China due to the country's COVID policies. In July of this year, Musk said the Fremont, California factory had produced 2 million cars.

Facebook users will soon be able to order food delivery from Facebook Marketplace. That's thanks to a new partnership between Meta and DoorDash. The two companies said they have already tested services in several US cities, but that the partnership is still in the early stages. This is the latest bid by Meta to get more young people to use Facebook Marketplace.