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UPDATE: InterOil Posts Rise In Q1 Profit

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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.

Posted-In: profitEarnings News

 

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