Royal Caribbean Third Quarter Profits up 55%
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.