MIAMI (AP) — MIAMI (AP) — Royal Caribbean Cruises Ltd. (RCL) on Tuesday reported first-quarter profit of $730 million.
The Miami-based company said it had net income of $2.70 per share. Earnings, adjusted to extinguish debt and for restructuring costs, came to $2.71 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.53 per share.
The cruise operator posted revenue of $4 billion in the period, falling short of Street forecasts. Eight analysts surveyed by Zacks expected $4.01 billion.
For the current quarter ending in June, Royal Caribbean expects its per-share earnings to range from $4 to $4.10.
The company expects full-year earnings in the range of $14.55 to $15.55 per share.
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