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Royal Caribbean beats 3Q profit expectations, misses revenue forecasts

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MIAMI — Royal Caribbean Cruises Ltd. (RCL) on Thursday reported earnings of $490.2 million in its third quarter.

On a per-share basis, the Miami-based company said it had net income of $2.19. Earnings, adjusted for non-recurring costs and restructuring costs, came to $2.20 per share.

The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $2.19 per share.

The cruise operator posted revenue of $2.39 billion in the period, missing Street forecasts. Analysts expected $2.4 billion, according to Zacks.

For the current quarter ending in December, Royal Caribbean expects its per-share earnings to range from 35 cents to 40 cents.

Royal Caribbean shares have risen 34 percent since the beginning of the year. The stock has increased 59 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. RCL stock research report from Zacks: http://www.zacks.com/ap/RCL

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Keywords:Royal Caribbean,Earnings Report

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