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.