Diamond Offshore Drilling Inc. Q2 Profit Advances 179%

(RTTNews) - Diamond Offshore Drilling Inc. (DO) released earnings for its second quarter that gained ground compared to the same period last year.

The company said its bottom line rose to $62.27 million, or $0.45 per share. This was up from $22.29 million, or $0.16 per share, in last year's second quarter.

Analysts had expected the company to earn $0.24 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 2.7% to $399.29 million. This was up from $388.75 million last year.

Diamond Offshore Drilling Inc. earnings at a glance:

-Earnings (Q2): $62.27 Mln. vs. $22.29 Mln. last year. -Earnings Growth (Y-o-Y): 179.4% -EPS (Q2): $0.45 vs. $0.16 last year. -EPS Growth (Y-o-Y): 181.2% -Analysts Estimate: $0.24 -Revenue (Q2): $399.29 Mln vs. $388.75 Mln last year. -Revenue Change (Y-o-Y): 2.7%