Noble Corporation has reported a decline in its first quarter earnings compared to the same period last year, which also fell short of Wall Street projections. The company posted earnings of $95.48 million, equating to $0.66 per share, a drop from last year's first quarter profits of $108.06 million or $0.74 per share.
When adjusting for certain factors, Noble Corporation recorded profits of $65.99 million, or $0.45 per share, for the quarter. Analysts, on average, had predicted earnings of $0.52 per share, according to Thomson Reuters' data. These predictions usually don't take special items into account.
However, the company's revenue rose by 4.4% for the quarter, reaching $637.08 million, up from $610.05 million in the previous year.
To provide a snapshot, Noble Corporation's Q1 earnings were $95.48 million, down from $108.06 million last year. The earnings per share (EPS) were $0.66, a decrease from the $0.74 of last year, while revenue rose from $610.05 million to $637.08 million year-over-year.
Regarding the outlook, the Corporation projects a full-year revenue ranging from $2.55 to $2.7 billion.
