STEINHAUSEN, Switzerland (AP) — STEINHAUSEN, Switzerland (AP) — Transocean Ltd. (RIG) on Wednesday reported a loss of $1.92 billion in its third quarter.
The Steinhausen, Switzerland-based company said it had a loss of $2 per share. Earnings, adjusted for one-time gains and costs, came to 6 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.
The offshore oil and gas drilling contractor posted revenue of $1.03 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $1.01 billion.
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