STEINHAUSEN, Switzerland (AP) _ Transocean Ltd. (RIG) on Monday reported a loss of $51 million in its fourth quarter.
On a per-share basis, the Steinhausen, Switzerland-based company said it had a loss of 8 cents. Losses, adjusted for one-time gains and costs, were 43 cents per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 31 cents per share.
The offshore oil and gas drilling contractor posted revenue of $792 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $821.3 million.
For the year, the company reported that its loss narrowed to $1.25 billion, or $2.05 per share. Revenue was reported as $3.09 billion.
The company's shares closed at $4.53. A year ago, they were trading at $8.93.
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
Automated Insights, source Associated Press News