RIO DE JANEIRO, BRAZIL - The season of first-quarter financial statements in Brazil came to an end this week. Overall, the numbers pleased the market, according to analysts from BTG Pactual in a report released on Wednesday, May 19.
The revenue, the operational cash flow (EBITDA) and the profit of the companies (excluding Petrobras and Vale) exceeded the bank's projections for the period by about 2%, 8% and 24%, respectively. Qualitatively, 48% of companies posted better-than-expected results, while 11% came in lower than expected.
In the annual comparison, the analysts Carlos Sequeira and Osni Carfi pointed out . . .
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