BRUSSELS (dpa-AFX) - Transocean Inc. (RIG) announced Loss for its first quarter that increased from the same period last year and missed the Street estimates.
The company's bottom line came in at -$465 million, or -$0.64 per share. This compares with -$175 million, or -$0.26 per share, in last year's first quarter.
Excluding items, Transocean Inc. reported adjusted earnings of -$275 million or -$0.38 per share for the period.
Analysts on average had expected the company to earn -$0.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 10.8% to $649 million from $586 million last year.
Transocean Inc. earnings at a glance (GAAP) :
-Earnings (Q1): -$465 Mln. vs. -$175 Mln. last year. -EPS (Q1): -$0.64 vs. -$0.26 last year. -Analyst Estimate: -$0.22 -Revenue (Q1): $649 Mln vs. $586 Mln last year.
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