STEINHAUSEN, Switzerland (AP) — STEINHAUSEN, Switzerland (AP) — Transocean Ltd. (RIG) on Monday reported a loss of $465 million in its first quarter.
On a per-share basis, the Steinhausen, Switzerland-based company said it had a loss of 64 cents. Losses, adjusted for one-time gains and costs, were 38 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 20 cents per share.
The offshore oil and gas drilling contractor posted revenue of $649 million in the period, exceeding Street forecasts. Four analysts surveyed by Zacks expected $641.8 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
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