Transocean Posts Wider Q4 Loss

Transocean Ltd

posted a wider Q4 net loss. Transocean posted a quarterly loss of $6.12 billion, or $18.62 per share, versus a year-ago loss of $799 million, or $2.51 per share, in the year-ago period. The latest quarter results were hurt by special items of $18.80 per share. Its revenue rose to $2.42 billion from $2.13 billion. However, analysts were expecting a profit of $0.24 per share on revenue of $2.34 billion. Transocean shares gained 3.06% to $52.28 in pre-market trading.