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Petrobras Posts Q2 Net Loss

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Brazilian Petroleo Brasileiro SA (NYSE: PBR) posted a net loss in the second quarter.

Petrobras posted a quarterly net loss of 1.35 billion Brazilian reais ($668 million), versus a year-ago net profit of BRL10.9 billion. However, analysts were expecting a profit of BRL3.6 billion.

Its domestic crude oil production dropped 2.4% in the same period.

Petrobras shares closed at $20.33 on Friday.

Posted-In: lossEarnings News


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