Brazilian state-run oil company Petrobras posted second-quarter net profits of 7.73 billion reais ($4.16 billion) versus 8.78 billion reais reported for the same quarter a year ago.

Petroleo Brasileiro SA said earnings before interest, taxes, depreciation and amortization (EBITDA) were 17.51 billion reais compared with 18.13 billion reais reported in 2008.

The oil giant had been expected to post a net profit of 6.97 billion reais ($3.81 billion) and EBITDA of 14.50 billion reais according to the average forecast of five analysts surveyed by Reuters.

($1=1.856 reais)

(Reporting by Brian Ellsworth)