Noble Corp. (NE) Tops Q1 EPS by 30c

Noble Corp. (NYSE: NE) reported Q1 EPS of $0.99, $0.30 better than the analyst estimate of $0.69. Revenue for the quarter came in at $1.25 billion versus the consensus estimate of $1.19 billion.

David W. Williams, Chairman, President and Chief Executive Officer of Noble Corporation plc noted, "Our contract drilling margin improved to 54 percent in the first quarter, up from 50 percent in the fourth quarter of 2013, as new rig additions contributed to a 7 percent increase in revenues while contract drilling costs were essentially flat in the quarter. In addition, a reduction in operating downtime to 4.5 percent and higher bonus revenue further supported the increase in quarterly revenues.

For earnings history and earnings-related data on Noble Corp. (NE) click here.

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