Diamond Offshore Beats 3Q Estimates by 2 Cents - TheStreet

Diamond Offshore Drilling

(DO) - Get Report

said third-quarter earnings beat Wall Street's estimates by 2 cents a share.

Diamond Offshore, a contract drilling company, reported third-quarter earnings of $10.5 million, or 8 cents a diluted share, compared with $37.8 million, or 27 cents a diluted share, for the same period a year ago. The 24-analyst

First Call/Thomson Financial

consensus estimate called for earnings of 6 cents a share for the quarter.

Revenue fell to $157.3 million from $206.7 million in the year-ago period.

Shares of Diamond Offshore were recently trading down $1.13, or 2.8%, to $38.75.