STEINHAUSEN, Switzerland (AP) _ Transocean Ltd. (RIG) on Monday reported a loss of $825 million in its third quarter.
The Steinhausen, Switzerland-based company said it had a loss of $1.35 per share. Losses, adjusted for one-time gains and costs, were 38 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 40 cents per share.
The offshore oil and gas drilling contractor posted revenue of $784 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $780.4 million.
In the final minutes of trading on Monday, the company's shares hit $4.72. A year ago, they were trading at $10.97.