Transocean: 2Q Earnings Snapshot
STEINHAUSEN, Switzerland (AP) _ Transocean Ltd. (RIG) on Monday reported a loss of $208 million in its second quarter.
On a per-share basis, the Steinhausen, Switzerland-based company said it had a loss of 34 cents.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 33 cents per share.
The offshore oil and gas drilling contractor posted revenue of $758 million in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $773.9 million.
Transocean shares have declined 23% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 21%. In the final minutes of trading on Monday, shares hit $5.37, a fall of 58% in the last 12 months.