MIAMI (AP) — MIAMI (AP) — Royal Caribbean Cruises Ltd. (RCL) on Tuesday reported first-quarter profit of $730 million.
The Miami-based company said it had net income of $2.70 per share. Earnings, adjusted to extinguish debt and for restructuring costs, came to $2.71 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.53 per share.
The cruise operator posted revenue of $4 billion in the period, falling short of Street forecasts. Eight analysts surveyed by Zacks expected $4.01 billion.
For the current quarter ending in June, Royal Caribbean expects its per-share earnings to range from $4 to $4.10.
The company expects full-year earnings in the range of $14.55 to $15.55 per share.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RCL at https://www.zacks.com/ap/RCL
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.