Royal Caribbean Cruises Shares Jump 5% After Mixed Third Quarter
Shares of Royal Caribbean Cruises (NYSE: RCL), one of the world's largest cruise companies operating more than six brands in the cruise vacation industry, jumped more than 5% by 9:40AM EST after the company announced its mixed third-quarter results.
The well-known cruise operator posted mixed results as its top-line revenue fell short of estimates, but its bottom-line earnings managed to top estimates. Royal Caribbean posted revenue of $2.57 billion during the third-quarter, which fell just shy of analysts' estimates calling for $2.58 billion. The cruise operator managed to post earnings per share of $3.49 despite the revenue shortfall, which topped analysts' estimates of $3.43 per share. Royal Caribbean's recent success can partly be attributed to the company's Double-Double program which was set to double the company's 2014 earnings per share by 2017 and increase return on invested capital (ROIC) to double digits.
Ovation of the Seas arriving into Sydney. Image source: Royal Caribbean press center.
Source: Fool.com
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