Transocean Inc. Q3 Loss Decreases, beats estimates

Transocean Inc. (RIG) released Loss for third quarter that decreased from last year and beat the Street estimates.

The company's earnings totaled -$28 million, or -$0.04 per share. This compares with -$130 million, or -$0.20 per share, in last year's third quarter.

Excluding items, Transocean Inc. reported adjusted earnings of -$41 million or -$0.06 per share for the period.

Analysts on average had expected the company to earn -$0.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.4% to $691 million from $626 million last year.

Transocean Inc. earnings at a glance (GAAP) :

-Earnings (Q3): -$28 Mln. vs. -$130 Mln. last year.
-EPS (Q3): -$0.04 vs. -$0.20 last year.
-Analyst Estimates: -$0.18
-Revenue (Q3): $691 Mln vs. $626 Mln last year.

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