Royal Caribbean 2Q profit rises fivefold, tops forecast

Markets Associated Press

Royal Caribbean Cruises Ltd. (RCL) on Thursday reported earnings that rose fivefold in its second quarter, and topped analysts' expectations.

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The Miami-based company said profit increased to $137.7 million, or 62 cents per share, from $24.7 million, or 11 cents per share, in the same quarter a year earlier.

Earnings, adjusted for one-time gains and costs, came to 66 cents per share. The average per-share estimate of analysts surveyed by Zacks Investment Research was for profit of 53 cents.

The cruise operator said revenue climbed 5.2 percent to $1.98 billion from $1.88 billion in the same quarter a year ago, and missed Wall Street forecasts. Analysts expected $1.99 billion, according to Zacks.

Royal Caribbean shares have increased $8.81, or 19 percent, to $56.23 since the beginning of the year. The stock has risen $19.86, or 55 percent, in the last 12 months.

This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full RCL report: http://www.zacks.com/ap/RCL

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Keywords:Royal Caribbean,Earnings Report