News Column

BRIEF: Royal Caribbean profits surge in second quarter

July 24, 2014

By Hannah Sampson, The Miami Herald



July 24--Bargain prices in the Caribbean didn't drag down earnings for Royal Caribbean Cruises in the second quarter.

The Miami-based cruise operator said Thursday that higher prices than expected for cruises in Europe and China drive positive results for the three-month period that ended June 30.

Revenue increased to $1.98 billion from $1.88 billion the previous year, though that number just missed Wall Street expectations. Costs excluding fuel were down more than 4 percent, and net income jumped to $137.7 million from $24.7 million a year earlier.

Onboard spending, especially on popular items such as drink packages and internet service, increased 3 percent.

The company raised its forecast for the full year from $3.25-$3.45 per share to $3.40-$3.50.

Royal Caribbean Cruises owns several brands in the United States and Europe, including Royal Caribbean International, Celebrity Cruises, Azamara Club Cruises, Pullmantur and CDF Croisieres de France.

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(c)2014 The Miami Herald

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Source: Miami Herald (FL)


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