Transocean Reports Lower Q1 Profit - Transocean (NYSE:RIG)

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Transocean (NYSE: RIG) released its first-quarter earnings results on Wednesday after the closing bell. The company reported net income of $42 million or $0.12 per share, versus $310 million or $0.96 per share, in the year ago period. The results included unfavorable items of $184 million, or $0.52 per share. Operating revenues at the company were $2.33 billion versus $2.42 billion in last year's corresponding quarter. Wall Street analysts' had consensus EPS estimates of $0.33 per share on revenues of $2.39 billion for the first-quarter.

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