Transocean Reports Q4 Earnings

STAINHAUSEN, Switzerland (AP) — Transocean Ltd. (RIG) announced a profit of $25 million for the fourth quarter on Thursday, translating to net income of 2 cents per share. However, this fell short of Wall Street's projections, which estimated earnings at 9 cents per share based on data from six analysts surveyed by Zacks Investment Research. The offshore drilling contractor's revenue for the quarter stood at $1.04 billion, aligning with market expectations. For the entire year, the company recorded a loss of $2.92 billion, equivalent to $3.04 per share, with total revenue reaching $3.97 billion.