Royal Caribbean tops Street 2Q forecasts

Markets Associated Press

Royal Caribbean Cruises Ltd. (RCL) on Tuesday reported second-quarter profit of $369.5 million.

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On a per-share basis, the Miami-based company said it had net income of $1.71.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.67 per share.

The cruise operator posted revenue of $2.2 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $2.19 billion.

Royal Caribbean expects full-year earnings in the range of $7.35 to $7.45 per share.

Royal Caribbean shares have climbed 38 percent since the beginning of the year. The stock has increased 56 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on RCL at https://www.zacks.com/ap/RCL

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Keywords: Royal Caribbean, Earnings Report