August 2, 2019 / 12:13 AM / 17 days ago

Brazil's Petrobras shatters quarterly profit estimates thanks to asset sales

RIO DE JANEIRO, Aug 1 (Reuters) - Brazilian state-run oil firm Petroleo Brasileiro SA handily beat second quarter profit estimates on Thursday thanks in large part to billions of reais in asset sales that were finalized.

In a securities filing, Petrobras, as the firm is commonly known, said second quarter net profit came to 18.87 billion reais ($4.92 billion). That was well above the Refinitiv consensus estimate of 8.06 billion reais at current exchange rates.

($1 = 3.84 reais)

Reporting by Gram Slattery; Editing by Sandra Maler

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