Noble: Results beat Wall Street estimates.
Noble profit beats the Street
Swiss driller Noble, the world's third-largest offshore rig contractor by market value, reported today a better-than-expected 6% rise in quarterly profit and said new rigs would underpin earnings this year.
"The commencements of operations of three new ultra-deep-water units, coupled with our outstanding backlog, give us positive momentum for the year ahead," boss David Williams said in a statement.
The company said its fourth-quarter net profit rose to $446 million, or $1.72 per share, from $419 million, or $1.58 per share, in the same quarter a year before. Revenue grew 3% to $940 million, according to a Reuters report.
Analysts had expected a profit of $1.58 per share on revenue of $896 million, according to the averages on Thomson Reuters I/B/E/S.
Noble shares closed a few cents higher at $42.19 prior to the release of the results, which are the first from a major rig contractor.
