April 30, 2018 / 10:13 AM / 3 months ago

Diamond Offshore profit falls on lower demand for deep-water rigs

April 30 (Reuters) - Diamond Offshore Drilling Inc’s reported a fall in quarterly profit as day rates for the company’s deep-water rigs fell.

Net income fell to $19.3 million, or 14 cents per share, in the first quarter ended March 31, from $23.5 million, or 17 cents per share, a year earlier.

Total revenue fell 20.8 percent to $295.5 million. (Reporting by Karan Nagarkatti in Bengaluru; Editing by Shailesh Kuber)

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