Petrobras (PBR) said late Friday its Q1 net profit fell 17% Y/Y to 7.69B Brazilian reais...

|About: Petrobras - Petroleo Brasil... (PBR)|By:, SA News Editor

Petrobras (PBR) said late Friday its Q1 net profit fell 17% Y/Y to 7.69B Brazilian reais ($3.85B) from 9.21B reais in the year-ago quarter. While the results beat analyst estimates, operating costs jumped in almost every major category vs. Q1 2012; profit margins also slipped. Overall production fell 4% Y/Y "owing to natural decline in the fields and a greater number of maintenance stops."