PBR - Why Brazilian Oil Company Petrobras Stock Is Down Today | Benzinga
Petróleo Brasileiro S.A. (NYSE:PBR) shares are trading lower after the company reported first-quarter FY24 financial results.
Sales of $23.77 billion (-11.2% Y/Y) missing the consensus of $24.35 billion.
Net revenue fell 12% Q/Q, mainly owing to lower revenue from diesel sales in the domestic market and exports.
Oil products revenue fell 13.4% Y/Y to $14.0 billion. Total domestic market revenues declined 12.9% Y/Y to $17.1 billion, while foreign market revenues fell 6.5% Y/Y to $6.66 billion.
Revenue from oil products in the domestic ...