STEINHAUSEN, Switzerland (AP) _ Transocean Ltd. (RIG) on Monday reported a loss of $409 million in its third quarter.
The Steinhausen, Switzerland-based company said it had a loss of 88 cents per share. Earnings, adjusted for asset impairment costs and costs related to mergers and acquisitions, were 6 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.
The offshore oil and gas drilling contractor posted revenue of $816 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $777.9 million.
Transocean shares have declined 2.5 percent since the beginning of the year, while the Standard & Poor's 500 index has decreased 1 percent. In the final minutes of trading on Monday, shares hit $10.41, a climb of roughly 1 percent in the last 12 months.
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