Recap: Petroleo Brasileiro S.A.- Petrobras American Depositary Shares Q4 Earnings
Portfolio Pulse from Benzinga Insights
Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) reported Q4 earnings with an EPS of $0.96, missing estimates by -7%, and a revenue decrease of $3.06 billion from the previous year. The company's past earnings miss was followed by a 10% share price drop.
March 08, 2024 | 11:30 am
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Petrobras reported a Q4 earnings miss with an EPS of $0.96 against estimates of $1.03 and a significant revenue decline from the previous year.
The earnings miss and significant year-over-year revenue decline are likely to negatively impact investor sentiment and potentially lead to a short-term decrease in stock price, similar to the previous quarter's earnings miss which resulted in a 10% stock price drop.
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