Diamond Offshore Posts a Rare Revenue Increase in Q2

The offshore rig business has been in a state of decline for more than two years. Even before oil prices started to crash, there was a concern that there were too many rigs fighting to find work. The crash came in the middle of 2014, and the industry has been falling ever since. This past quarter, though, Diamond Offshore Drilling (NYSE: DO) posted the first increase in revenue in a long time.

Here's a look at what happened this past quarter that led to the uptick in revenue, and how that may make investors think differently about this stock.

Image soruce: Getty Images.

Source: Fool.com