Transocean: 4Q Earnings Snapshot

STEINHAUSEN, Switzerland (AP) _ Transocean Ltd. (RIG) on Monday reported a loss of $242 million in its fourth quarter.

On a per-share basis, the Steinhausen, Switzerland-based company said it had a loss of 48 cents. Losses, adjusted for non-recurring costs, came to 34 cents per share.

The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 24 cents per share.

The offshore oil and gas drilling contractor posted revenue of $748 million in the period, topping Street forecasts. Five analysts surveyed by Zacks expected $734.7 million.

For the year, the company reported that its loss narrowed to $2 billion, or $4.27 per share. Revenue was reported as $3.02 billion.

Transocean shares have increased 29 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 11 percent. The stock has dropped almost 2 percent in the last 12 months.

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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