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Transocean: 1Q Earnings Snapshot

STEINHAUSEN, Switzerland (AP) _ Transocean Ltd. (RIG) on Wednesday reported a loss of $392 million in its first quarter.

The Steinhausen, Switzerland-based company said it had a loss of 64 cents per share. Losses, adjusted for one-time gains and costs, came to 30 cents per share.

The results matched Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for a loss of 30 cents per share.

The offshore oil and gas drilling contractor posted revenue of $759 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $791.2 million.

In the final minutes of trading on Wednesday, the company's shares hit $1.08. A year ago, they were trading at $8.80.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RIG at https://www.zacks.com/ap/RIG