STEINHAUSEN, Switzerland (AP) — STEINHAUSEN, Switzerland (AP) — Transocean Ltd. (RIG) on Monday reported first-quarter net income of $71 million.

The Steinhausen, Switzerland-based company said it had profit of 6 cents per share. Losses, adjusted for pretax gains, came to 3 cents per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.

The offshore oil and gas drilling contractor posted revenue of $1.08 billion in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $1.03 billion.

For the current quarter ending in June, Transocean said it expects revenue in the range of $930 million to $970 million.

The company expects full-year revenue in the range of $3.8 billion to $3.9 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RIG at https://www.zacks.com/ap/RIG