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Diamond offshore profit falls 22.4 pct
October 30, 2017 / 10:08 AM / 22 days ago

Diamond offshore profit falls 22.4 pct

Oct 30 (Reuters) - Diamond Offshore on Monday reported a 22.4 percent fall in its quarterly profit on higher drilling expenses and debt repayment.

Diamond, majority owned by Loews Corp, said net income fell to $10.8 million, or 8 cents per share, for the third quarter ended Sept. 30 from $13.9 million, or 10 cents per share, a year earlier.

Total revenue rose to $366 million from $349.2 million (Reporting by Akshara P in Bengaluru; Editing by Anil D‘Silva)

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