Brazil's Petrobras Reports Net Loss of $358M



Reuters

RIO DE JANEIRO, May 12 (Reuters) - Brazil's state-led oil company, Petroleo Brasileiro SA, reported a 1.25 billion real ($358 million) net loss in the first quarter, according to a company statement.

Petrobras, as the company is known, reported net sales, or total sales minus sales taxes, of 70.3 billion reais in the quarter. Adjusted earnings before interest, taxes, amortization and depreciation, or EBITDA, a measure of operating profit, was 21.1 billion reais.

($1 = 3.4816 Brazilian reais) (Reporting by Jeb Blount, Marta Nogueira and Rodrigo Viga Gaier; Writing by Jeb Blount; Editing by Chris Reese)



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