May 8 Transocean Ltd, the world's
largest offshore drilling contractor, reported on Wednesday a
weaker-than-expected rise in quarterly profit as some of its
rigs could not work for a period of time due to a third-party
First-quarter net income rose to $321 million, or 88 cents
per share, from $10 million, or 3 cents per share, a year ago -
when it took a big charge on the value of its fleet. Excluding
one-time items, it earned 93 cents per share, compared with the
average $1.00 expected by analysts on Thomson Reuters I/B/E/S.
Revenue in the quarter grew 4 percent to $2.2 billion.