STEINHAUSEN, Switzerland (AP) — STEINHAUSEN, Switzerland (AP) — Transocean Ltd. (RIG) on Wednesday reported second-quarter profit of $170 million.
The Steinhausen, Switzerland-based company said it had net income of 4 cents per share. Earnings, adjusted for one-time gains and costs, were 3 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The offshore oil and gas drilling contractor posted revenue of $966 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $939.1 million.
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