Brazil’s Petrobras Posts Profit - News Summed Up
Brazil’s Petrobras Posts Profit

Brazil’s Petrobras Posts Profit

November 13, 2017 21:47 UTC

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Brazil’s Petrobras Posts Profit


RIO DE JANEIRO—Brazilian state-run oil company Petróleo Brasileiro SA, or Petrobras, eked out a slim profit in the third quarter amid higher oil prices, though high interest expenses and provisions weighed on its bottom line. Petrobras reported Monday a net profit of 266 million Brazilian reais ($81.1 million) in the July through September period, reversing a 16.46-billion-real loss a year earlier. The result came up far short of the 4.42-billion-real consensus estimate in a FactSet survey of analysts.


Source: Wall Street Journal November 13, 2017 21:47 UTC



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