Royal Caribbean reports better than expected first quarter earnings
Royal Caribbean reported its first quarter 2017 earnings, with a net income of $214.7 million. The earnings per share were better than expected mainly due to improved revenue and overall bookings for the rest of the year continue to perform as expected.
The company also announced today board authorization for a $500 million share repurchase program.
Royal Caribbean reported thus far, the year has developed very much along the trajectory the company projected at the beginning of the year. Bookings started the year on a very strong note and continued to please. This strong demand for cruises generally has offset the recent headwinds from the disrupted Korean sailings mainly during the second and third quarters.