Diamond Offshore Drilling Inc. Q2 Profit Drops 75%

(RTTNews) - Diamond Offshore Drilling Inc. (DO) announced earnings for second quarter that decreased compared to the same period last year.

The company said its profit declined to $22.30 million, or $0.16 per share. This was lower than $90.39 million, or $0.66 per share, in last year's second quarter.

Analysts had expected the company to earn $0.04 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 38.7% to $388.75 million. This was down from $634.03 million last year.

Diamond Offshore Drilling Inc. earnings at a glance:

-Earnings (Q2): $22.30 Mln. vs. $90.39 Mln. last year. -Earnings Decline (Y-o-Y): -75.3% -EPS (Q2): $0.16 vs. $0.66 last year. -EPS Decline (Y-o-Y): -75.8% -Analysts Estimate: $0.04 -Revenue (Q2): $388.75 Mln vs. $634.03 Mln last year. -Revenue Change (Y-o-Y): -38.7%