SAO PAULO, May 11 - Brazilian state-controlled oil company Petrobras posted first-quarter net profits of 5.82 billion reais ($2.83 billion) versus 7.24 billion reais in the same three-month period a year ago, the company said on Monday.
Petroleo Brasileiro SA (PETR4.SA)(PBR.N) said earnings before interest, taxes, depreciation and amortization (EBITDA) fell to 13.4 billion reais from 14.2 billion reais a year ago.
The oil giant had been expected to post a net profit of 5 billion reais ($2.4 billion) and EBITDA of 11.9 billion reais according to the average forecast of five analysts surveyed by Reuters.
($1=2.059 reais)
Petroleo Brasileiro SA (PETR4.SA)(PBR.N) said earnings before interest, taxes, depreciation and amortization (EBITDA) fell to 13.4 billion reais from 14.2 billion reais a year ago.
The oil giant had been expected to post a net profit of 5 billion reais ($2.4 billion) and EBITDA of 11.9 billion reais according to the average forecast of five analysts surveyed by Reuters.
($1=2.059 reais)
