UPDATE: Petrobras Posts Upbeat Q4 Profit

Brazilian Petroleo Brasileiro SA

reported a 53% rise in its fourth-quarter net profit. Petrobras' quarterly net profit surged to 7.75 billion Brazilian reais ($3.89 billion), from BRL5.05 billion, in the year-ago period. However, analysts were expecting earnings of BRL6.0 billion. Its net revenue came in at BRL73.4 billion, while adjusted earnings before interest, taxes, depreciation and amortization came in at BRL11.9 billion. Petrobras shares fell 0.17% to $18.00 in after-hours trading.