Transocean (RIG) Beats Earnings For Quarter

Transocean (RIG) announced their earnings for the quarter ending in June after-hours tonight and beat analyst estimates depending on considerations. The consensus estimate was $1.68 per share while the company actually earned $2.22 a share. Revenue was soft for the off shore drilling company. They brought in $2.5 billion in revenue while the street was expecting $2.56 billion. This was down from the same quarter last year when revenue was $2.88 billion. Shares rallied throughout the day in addition to the days leading up to the announcement. The stock is up slightly after the announcement.