Petrobras Brasileiro Q1 Sales $23.768 Miss $24.348B Estimate, Net Income $4.805B Down From $7.37B YoY
Portfolio Pulse from Benzinga Newsdesk
Petrobras Brasileiro (PBR) reported Q1 sales of $23.768 billion, missing the consensus estimate of $24.348 billion. Net income for the quarter was $4.805 billion, down from $7.37 billion YoY, indicating a significant decrease in profitability.
May 14, 2024 | 10:01 am
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Petrobras reported lower than expected Q1 sales and a significant decrease in net income compared to last year, indicating potential challenges ahead.
Missing sales estimates and a significant year-over-year decline in net income are typically seen as negative indicators for a company's financial health and future performance. This could lead to a decrease in investor confidence and potentially impact the stock price negatively in the short term.
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