Royal Caribbean Shares Slump 6.3% After Missing Fourth Quarter Expectations

Shares of Royal Caribbean Cruises slumped 6.3% in premarket trade Thursday, after the cruise operator missed fourth-quarter profit and sales expectations, and provided a downbeat 2015 outlook. Adjusted earnings for the latest quarter rose to $70 million, or 32 cents a share, compared to $49.9 million, or 23 cents a share in the year earlier period, but missed the FactSet consensus analyst estimate of 43 cents a share. Revenue fell to $1.82 billion from $1.85 billion, compared with analyst expectations of $1.88 billion. For 2015, the company said it expects an adjusted EPS of $4.65 to $4.85, below the FactSet consensus of $4.93.