Petroleo Brasileiro S.A., or Petrobras (PBR) , announced first-quarter earnings per ADS of 75 cents, missing the Zacks Consensus Estimate of 84 cents. Earnings also came in well below the year-ago profit of $1.11. The underperformance can be blamed on rising pre-salt lifting costs that resulted in weak upstream profitability, plus higher refining outlay. This was partly offset by strong production. Recurring net income, which strips one-time items, came in at$4,816 million compared with $7,392 million a ye ...