Argentina's YPF posts 90% net profit drop in second quarter
Revenues also dropped 6% to $4.64 billion, hit by weaker Brent-linked prices for refined products, especially local fuels, and lower seasonal demand for naphtha.
Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) – a key measure of profitability – came in at $1.12 billion for the April-June period, down 7% from a year earlier.
Analysts polled by LSEG had on average expected an adjusted EBITDA of $1.17 billion from revenues of $4.49 billion.
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