This article is from the source 'independent' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.independent.co.uk/news/world/americas/royal-caribbean-stock-spikes-on-earnings-beat-a7547711.html

The article has changed 2 times. There is an RSS feed of changes available.

Version 0 Version 1
Royal Caribbean Stock Spikes on Earnings Beat Royal Caribbean Stock Spikes on Earnings Beat
(about 5 hours later)
Royal Caribbean Cruises (RCL) stock rose in early-morning trading on Thursday by 7.38% to $94.14 after the Miami-based cruise line reported 2016 fourth quarter earnings that beat analysts' expectations. Updated at 4:15 p.m. to reflect closing stock prices.
Royal Caribbean Cruises (RCL) stock rose 9.09% to $95.64 a share on Thursday after the Miami-based cruise line reported 2016 fourth quarter earnings that beat analysts' expectations.
Before today's market open, Royal Caribbean reported fourth quarter adjusted earnings of $1.23 a share, compared to expectations of earnings of $1.21 a share, according to analysts surveyed by Factset.Before today's market open, Royal Caribbean reported fourth quarter adjusted earnings of $1.23 a share, compared to expectations of earnings of $1.21 a share, according to analysts surveyed by Factset.
However, fourth quarter revenue of $1.91 billion missed Wall Street's predictions of $1.96 billion. However, fourth quarter revenue of $1.91 billion missed Wall Street's predictions of $1.96 billion. Last year, Royal Caribbean posted fourth quarter earnings of 94 cents a share on revenue of $1.9 billion.
Last year, Royal Caribbean posted fourth quarter earnings of 94 cents a share on revenue of $1.9 billion. The company posted 2016 full-year adjusted earnings of $6.08 a share, compared to year-over-year earnings of $4.83 a share. Royal Caribbean's full-year revenue of $8.64 billion was higher than Wall Street's predictions of $8.56 billion and rose year-over-year from revenue of $8.3 billion.
The company posted 2016 full-year adjusted earnings of $6.08 a share, compared to year-over-year earnings of $4.83 a share. Despite pressures from the rising cost of fuel, the strengthening dollar and travel concerns related to terrorist attacks in Europe, Royal Caribbean delivered a 25% increase in earnings in 2016, representing its fourth consecutive year of double digits earnings growth, company CFO Jason Liberty said in an interview with TheStreet.
The company's full-year revenue of $8.64 billion was higher than Wall Street's predictions of $8.56 billion and rose year-over-year from revenue of $8.3 billion. Royal Caribbean's earnings in 2016 were negatively impacted by about 20 cents from the rising cost of fuel coupled with the strong dollar, according to Liberty.
The company said it anticipates 2017 full-year adjusted earnings to be in range of $6.90 to $7.10 a share. Liberty added that Royal Caribbean still saw "exception demand" in bookings from North America, which includes Europe, despite the travel concerns but that the company still "definitely" felt its impact.
Luckily, "North American consumers still wanted to go on a cruise," Liberty said. Guests from the U.S. and Europe opted to take cruises to the Caribbean islands, Alaska and Bermuda, balancing out the concerns in traveling to certain countries such as Germany, Italy and Spain.