Diamond Offshore Drilling Inc. Earnings Fall 73% In Q1

(RTTNews) - Diamond Offshore Drilling Inc. (DO) announced a profit for first quarter that fell from last year.

The company said its earnings declined to $23.54 million, or $0.17 per share. This was lower than $87.42 million, or $0.64 per share, in last year's first quarter.

Analysts had expected the company to earn $0.12 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 20.5% to $374.23 million. This was down from $470.54 million last year.

Diamond Offshore Drilling Inc. earnings at a glance:

-Earnings (Q1): $23.54 Mln. vs. $87.42 Mln. last year. -Earnings Decline (Y-o-Y): -73.1% -EPS (Q1): $0.17 vs. $0.64 last year. -EPS Decline (Y-o-Y): -73.4% -Analysts Estimate: $0.12 -Revenue (Q1): $374.23 Mln vs. $470.54 Mln last year. -Revenue Change (Y-o-Y): -20.5%