ATHENS, Greece (AP) _ Diana Shipping inc. (DSX) on Thursday reported a loss of $3.1 million in its first quarter.
The Athens, Greece-based company said it had a loss of 4 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.
The shipping company posted revenue of $48.4 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $45.4 million.
The company's shares closed at $3.99. A year ago, they were trading at $3.81.