Brazilian oil and gas behemoth Petrobras (PBR) has drilled better-than-anticipated second quarter numbers and shares of the company are already up 6.8% in the pre-market session today. Driven by rising brent and natural gas prices coupled with increased volumes, revenue jumped 65.4% year-over-year to $34.7 billion, outperforming estimates by $3.2 billion. Impressively, adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) jumped 69.7% to $19.94 billion during this period. The company continued to capitalize on the higher crude price levels and improved its return on capital employed to 12.8% from 5.1% a year ago. Additionally, free cash flow generation at $12.8 billion remained robust during the quarter (a 37.
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Petroleo Brasileiro ADR (NYSE:PBR)
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