Royal Caribbean revises profits
Royal Caribbean has revised its earnings after a better-than-expected third quarter.
The cruise line is now estimating third quarter earnings to be up to $0.99 per share, instead of the original forecast of $0.85. Royal Caribbean said that revenues had been better than expected and the company had made effective cost savings.
A statement from the company said that passengers were continuing to book their cruises late. However, the fourth quarter was usually the weakest, so the combination of these facts would make predictions for the fourth quarter difficult.
Investors will find out whether the revised predictions were right on Wednesday next week, when the earnings for the third quarter will be announced.
Royal Caribbean awaits the decision by P&O Princess Cruises shareholders over whether its proposed take-over bid will be accepted.
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