Transocean Earnings: Here’s Why the Stock is Up Now
Transocean Ltd. (NYSE:RIG) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.19%.
Transocean Ltd. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 50% to $1.08 in the quarter versus EPS of $0.72 in the year-earlier quarter.
Revenue: Decreased 6.91% to $2.4 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Transocean Ltd. reported adjusted EPS income of $1.08 per share. By that measure, the company met the mean analyst estimate of $1.08. It missed the average revenue estimate of $2.4 billion.
Key Stats (on next page)…