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Transocean: Q1 Earnings Snapshot

Associated Press Finance
·1 min read

STEINHAUSEN, Switzerland (AP) — STEINHAUSEN, Switzerland (AP) — Transocean Ltd. (RIG) on Monday reported first-quarter earnings of $98 million.

The Steinhausen, Switzerland-based company said it had profit of 11 cents per share. Losses, adjusted for non-recurring gains, were 3 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.

The offshore oil and gas drilling contractor posted revenue of $763 million in the period. Its adjusted revenue was $767 million, missing Street forecasts. Four analysts surveyed by Zacks expected $778.7 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RIG at https://www.zacks.com/ap/RIG