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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