Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Royal Caribbean Rises Most in Two Years on Profit, Forecast

Oct. 25 (Bloomberg) -- Royal Caribbean Cruises Ltd., the world’s second-largest cruise operator, rose the most in two years after posting third-quarter profit that beat analysts’ estimates and raising its forecast for the year.

Royal Caribbean, based in Miami, gained 11 percent to $34.53 at 11:07 a.m. in New York and rose as much as 12 percent to mark the biggest intraday advance since October 2010. The stock had added 26 percent this year as of yesterday.

For the quarter, typically the biggest of the year, profit of $1.68 a share beat the $1.46 average of 26 analysts’ estimates compiled by Bloomberg. Net income fell 7.8 percent to $367.8 million from $399 million, or $1.82 a share, a year earlier as revenue shrank 9 percent, the company said today in a statement. Sales met analysts’ projections of about $2.22 billion.

The company also said it’s “encouraged by the trends so far” for 2013, citing higher booked load factors, a measure of capacity use.

For the year, Royal Caribbean forecasts profit of $1.85 to $1.95 a share, an increase from the previous projection of $1.70 to $1.80 a share. Analysts were estimating $1.79.

To contact the reporter on this story: Rob Golum in Los Angeles at rgolum@bloomberg.net

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.