Transocean Ltd. (RIG) reported that its first-quarter net income attributable to controlling interest was $321 million or $0.88 per share from $10 million or $0.03 per share in the previous year quarter.
The company stated that the recent quarter results primarily reflected the absence of a $136 million loss from discontinued operations and helped by a fall in interest expenses to $157 million from $180 million in the year-ago quarter.
Adjusted earnings from continuing operations for the quarter were $337 million or $0.93 per share.
Total revenues for the quarter were $2.19 billion, up from $2.11 billion in the comparable quarter last year.
On average, analysts polled by Thomson Reuters expected the company to earn $1.00 per share on revenues of $2.36 billion for the quarter. Analysts' estimates typically exclude special items.
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