STEINHAUSEN, Switzerland (AP) — STEINHAUSEN, Switzerland (AP) — Transocean Ltd. (RIG) on Monday reported first-quarter net income of $71 million.
The Steinhausen, Switzerland-based company said it had profit of 6 cents per share. Losses, adjusted for pretax gains, came to 3 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The offshore oil and gas drilling contractor posted revenue of $1.08 billion in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $1.03 billion.
For the current quarter ending in June, Transocean said it expects revenue in the range of $930 million to $970 million.
The company expects full-year revenue in the range of $3.8 billion to $3.9 billion.
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