Diamond Offshore Drilling Inc. Q1 adjusted earnings Beat Estimates

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

The company's bottom line totaled $19.32 million, or $0.14 per share. This compares with $23.54 million, or $0.17 per share, in last year's first quarter.

Excluding items, Diamond Offshore Drilling Inc. reported adjusted earnings of -$21.35 million or -$0.16 per share for the period.

Analysts had expected the company to earn -$0.19 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 21.0% to $295.51 million from $374.23 million last year.

Diamond Offshore Drilling Inc. earnings at a glance:

-Analysts Estimate: -$0.19 -Revenue (Q1): $295.51 Mln vs. $374.23 Mln last year.