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Royal Caribbean reports lower Q3 net but raises year view
October 25, 2012 / 12:50 PM / 5 years ago

Royal Caribbean reports lower Q3 net but raises year view

Oct 25 (Reuters) - Royal Caribbean Cruises Ltd, the world’s second-largest cruise operator, on Thursday reported lower quarterly earnings but raised its full-year forecast, saying bookings have been stronger than expected and it has been able to charge more per cruise.

The cruise operator now expects 2012 earnings of $1.85 per share to $1.95 per share, 15 cents higher than its previous forecast range.

Royal Caribbean’s third-quarter net income fell to $367.8 million, or $1.68 per share, on revenue of $2.26 billion, from $399 million, or $1.82 per share, on revenue of $2.32 billion a year earlier.

In January, a ship operated by Royal Caribbean’s larger rival Carnival Corp & Plc ran aground off the coast of Italy, killing 32 people.

In the months following the accident, bookings and prices fell industrywide. But Royal Caribbean said on Thursday that the effect of that accident “has continued to wane.”

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