Petrobras Misses As Costs Rise
Brazil’s state-run energy giant Petroleo Brasileiro S.A., or Petrobras (NYSE:PBR) announced first quarter 2012 earnings of R$9.2 billion or R$0.71 per share, compared with R$11.0 billion or R$0.84 in the year-earlier quarter. The company reported net income of US$5.2 billion or 40 cents per ADR, down form the year-ago quarter result of US$6.6 billion or [...]
Brazil’s state-run energy giant Petroleo Brasileiro S.A., or Petrobras (NYSE:PBR) announced first quarter 2012 earnings of R$9.2 billion or R$0.71 per share, compared with R$11.0 billion or R$0.84 in the year-earlier quarter.
The company reported net income of US$5.2 billion or 40 cents per ADR, down form the year-ago quarter result of US$6.6 billion or 51 cents per ADR. Quarterly earnings per share also missed the Zacks Consensus Estimate of 65 cents.
The company’s results were hurt by rising … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards