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Petrobras (PBR +2.2%) reports its Q1 net profit dropped 16% Y/Y as higher sales volumes were...
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Wednesday, May 16, 2012, 2:28 PM ETPetrobras (PBR +2.2%) reports its Q1 net profit dropped 16% Y/Y as higher sales volumes were offset by lower foreign exchange gains on overseas debt, but EPS of ~$0.36 and revenues (+22% Y/Y) easily beat analyst estimates. Exports rose to 714K bbl/day vs. 631K bbl/day in the year-ago period; demand for gasoline and diesel rose 24% and 9%, respectively.
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