STEINHAUSEN, Switzerland (AP) — STEINHAUSEN, Switzerland (AP) — Transocean Ltd. (RIG) on Monday reported fourth-quarter profit of $7 million.
On a per-share basis, the Steinhausen, Switzerland-based company said it had net loss of 11 cents. Losses, adjusted for non-recurring costs, came to 9 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The offshore oil and gas drilling contractor posted revenue of $952 million in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $958.5 million.
For the year, the company reported a loss of $512 million, or 76 cents per share. Revenue was reported as $3.53 billion.
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