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Royal Caribbean Third Quarter Profits up 55%

In:
26Oct2010

Royal Caribbean third-quarter earnings rose an amazing 55% thanks to increased cruising demand and operating and fuel costs fell.  Revenue rose to $2.06 billion from $1.76 billion a year before.

Third-quarter earnings were $356.8 million, or $1.64 per share, compared with earnings of $230.4 million, or $1.07 per share, a year earlier.

Royal Caribbean said it's near-term bookings were stronger than they had expected while revenue remained stable and continues to "be characterized as slowly improving,".

In addition to its third-quarter results, Royal Caribbean gave investors a prelimary look at 2011 earnings and expects to exceed Royal Caribbean's previous record of $3.26 a share.