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STEINHAUSEN, Switzerland (AP) — STEINHAUSEN, Switzerland (AP) — Transocean Ltd. (RIG) on Monday reported a loss of $104 million in its fourth quarter.
The Steinhausen, Switzerland-based company said it had a loss of 13 cents per share. Losses, adjusted for non-recurring costs, came to 9 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 22 cents per share.
The offshore oil and gas drilling contractor posted revenue of $741 million in the period. Its adjusted revenue was $748 million, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $779.2 million.
For the year, the company reported a loss of $954 million, or $1.24 per share. Revenue was reported as $2.88 billion.
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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