First Free Story (1 of 3)Join Skift Pro
Royal Caribbean Cruises Ltd. (RCL) on Friday reported third-quarter earnings of $693.3 million.
On a per-share basis, the Miami-based company said it had profit of $3.21. Earnings, adjusted for non-recurring gains, came to $3.20 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.10 per share.
The cruise operator posted revenue of $2.56 billion in the period, missing Street forecasts. Seven analysts surveyed by Zacks expected $2.58 billion.
For the current quarter ending in December, Royal Caribbean expects its per-share earnings to be $1.20. Analysts surveyed by Zacks had forecast adjusted earnings per share of $3.37.
The company expects full-year earnings in the range of $6 to $6.10 per share.
Royal Caribbean shares have decreased 33 percent since the beginning of the year. The stock has dropped 32 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research.
Copyright (2016) Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
This article was from The Associated Press and was legally licensed through the NewsCred publisher network.