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D Dominion Energy Inc

51.18
0.20 (0.39%)
02 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Dominion Energy Inc NYSE:D NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.20 0.39% 51.18 52.085 49.93 50.99 7,032,245 00:58:31

Oil Prices, Tax Settlement Hurts Petrobras Profits

07/08/2015 1:10am

Dow Jones News


Dominion Energy (NYSE:D)
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SÃ O PAULO—Brazil's state-run oil firm Petró leo Brasileiro SA on Thursday reported second-quarter net income of 531 million reais ($150.2 million), much lower than analysts' expectations, weighed down by slumping oil prices and a hefty tax settlement with the Brazilian government.

The company's net income fell almost 90% compared with the same quarter a year ago. The company's revenue totaled 79.94 billion reais in the quarter, down 3% from the same period in 2014. Earnings before interest, taxes, depreciation and amortization, or Ebitda, increased 21.7% to 19.77 billion reais in the second quarter.

Petrobras took a 1.6 billion reais charge reflecting back taxes and fines paid to settle a tax dispute with Brazilian authorities. Brazil's tax appeals board ruled in July that the company owed a financial transactions tax on loans made to foreign subsidiaries in 2008.

Petrobras shares were up 3.3% at 10.34 reais in after-hours trading in Sã o Paulo.

Write to Will Connors at william.connors@wsj.com and Luciana Magalhaes at Luciana.Magalhaes@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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