Transocean Inc. (RIG) released earnings for first quarter that decreased from last year.
The company said its earnings came in at $254 million, or $0.69 per share. This was down from $398 million, or $1.10 per share, in last year's first quarter.
Analysts had expected the company to earn $0.29 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company said revenue for the quarter fell 34.3% to $1.34 billion. This was down from $2.04 billion last year.
Transocean Inc. earnings at a glance:
-Earnings (Q1): $254 Mln. vs. $398 Mln. last year.
-Earnings Decline (Y-o-Y): -36.2%
-EPS (Q1): $0.69 vs. $1.10 last year.
-EPS Decline (Y-o-Y): -37.3%
-Analysts Estimate: $0.29
-Revenue (Q1): $1.34 Bln vs. $2.04 Bln last year.
-Revenue Change (Y-o-Y): -34.3%
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