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Actionable news in PBR: PETROLEO BRASILEIRO S.A.-PETROBRAS ADS (REP 1 COMMON SHARE),

How Will Petrobras (PBR) Stock React to Q2 Revenue Miss, Lower Profits?

NEW YORK (TheStreet) -- Petrobras (PBR) reported 2016 second quarter revenues that missed Wall Street's projections, as well as a slump in profits.

After yesterday's closing bell, Petrobras posted 71.32 billion reais in revenue, falling short of analysts expected 76.6 billion reais. Last year, the Brazil-based state-run energy company reported revenues of 82.1 billion reais for the same quarter.

Profits declined 30% year-over-year to 370 million reais as a result of several factors, including the postponement of its Comperj project, which resulted in a 1.12 billion Brazilian reais charge, or approximately $355...


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