Petrobras (NYSE:PBR) reported its Q1 profit declined from a yr earlier, as the worth of oil fell however was partly offset by smaller working bills.

Q1 web earnings fell to 38.16B reais (~$7.7B) from 44.6B reais within the prior-year interval, however well above the 31.96B reais analyst consensus estimate, whereas revenues fell 1.8% Y/Y to 139.07B.

Q1 adjusted EBITDA fell to 72.5B reais from 77.7B reais a yr in the past but in addition topped the consensus estimate of 67.36B reais.

The common worth of benchmark Brent crude oil fell to $81.27/bbl within the quarter from $101.40/bbl a yr earlier, the corporate mentioned.

Petrobras (PBR) continued to pay out hefty dividends to its shareholders, totaling 24.7B reais ($4.94B) within the quarter.

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