Scandal-hit Petrobras may issue earnings in April: JP Morgan

April 7, 2015 2:16 PM

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Scandal-hit Petrobras may issue earnings in April: JP Morgan

RIO DE JANEIRO (Reuters) - Petróleo Brasileiro SA, struggling with fallout from a corruption scandal and a decline in oil prices, could release audited financial information this month despite facing "a perfect storm," analysts at JPMorgan Securities said on Tuesday.

In a client note, JPMorgan analysts led by Marcos Severine said the state-run company known as Petrobras could report third- and fourth-quarter earnings this month and book a one-off average asset impairment of 29.4 billion reais ($9.37 billion) due to a graft scheme that may have inflated the value...

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