LONDON (AP) _ Noble Corp. (NE) on Wednesday reported a loss of $70.9 million in its first quarter.
On a per-share basis, the London-based company said it had a loss of 29 cents. Losses, adjusted to extinguish debt, came to 37 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 42 cents per share.
The offshore drilling contractor posted revenue of $282.9 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $274.8 million.
In the final minutes of trading on Wednesday, the company's shares hit $2.55. A year ago, they were trading at $4.42.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NE at https://www.zacks.com/ap/NE