MOSCOW (Pakistan Point News / Sputnik - 06th May, 2022) Brazilian state-owned oil and gas company Petrobras made a net profit of $8.648 billion in the first quarter, a 43-fold increase from last year, the company said.
Revenue for the first three months of the year reached $27.189 billion, up 1.7 times year on year. The adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) increased 1.7 times to $14.961 billion.
As of March 31, the company's total debt was $40.072 billion.
The company's shares on the New York Stock Exchange rose by 2.56% in pre-market trading.
Petrobras is an energy company that was founded in 1953 and operates primarily in Brazil.
