UPDATE: InterOil Posts Rise In Q1 Profit
InterOil Corp (NYSE: IOC) posted a rise in its first-quarter profit.
InterOil's quarterly net profit climbed to $9.4 million, or $0.19 per share, from $700,000, or $0.01 per share, in the year-ago period. Its revenue surged 18% to $338.2 million.
In the January-March quarter, U.S. crude oil prices gained 9% y/y to average $103 per barrel.
InterOil shares closed at $57.61 on Friday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.