STEINHAUSEN, Switzerland (AP) — STEINHAUSEN, Switzerland (AP) — Transocean Ltd. (RIG) on Monday reported a loss of $79 million in its first quarter.
On a per-share basis, the Steinhausen, Switzerland-based company said it had a loss of 11 cents. Losses, adjusted for non-recurring costs, were 10 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.
The offshore oil and gas drilling contractor posted revenue of $906 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $885.8 million.
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