Offshore driller Transocean posts quarterly profit on cost cutting

Transocean

04/05/2016 22:08

May 4 (Reuters) - Offshore rig contractor Transocean Ltd 
 RIG.N   RIGN.VX  posted a quarterly profit, compared with a 
year-earlier loss, as cost cutting helped counter a slump in 
crude oil prices. 
    The company's net income attributable to controlling 
interest was $249 million, or 68 cents per share, in the first 
quarter ended March 31, compared with a loss of $483 million, or 
$1.33 per share, a year earlier.  urn:newsml:reuters.com:*:nEOL4DX4vS 
    Excluding items, the company earned 69 cents per share. 
    Revenue fell 34.4 percent to $1.34 billion. 
 
 (Reporting by Vishaka George in Bengaluru; Editing by Sriraj 
Kalluvila) 
 ((vishaka.george@thomsonreuters.com; within U.S. +1 646 223 
8780, outside U.S. +91 80 6749 1130; Reuters Messaging: 
vishaka.george.thomsonreuters.com@reuters.net)) 
 
Keywords: TRANSOCEAN RESULTS/