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Royal Caribbean raises forecast as Europe ticket sales boost profit

Thursday, 24 Oct 2013 | 9:29 AM ET

Oct 24 (Reuters) - Royal Caribbean Cruises Ltd raised its full-year earnings forecast after an improvement in ticket sales in Europe helped the cruise operator report better-than-expected quarterly results.

The company's shares rose 5 percent in premarket trading, having risen 15 percent this year to Wednesday's close.

Royal Caribbean, the second-largest cruise operator in the world, said it had higher bookings for 2014 in most markets including Europe, Asia and Alaska.

The company raised its full-year adjusted earnings forecast to $2.30-$2.35 per share from $2.20-$2.30 per share.

Analysts on average were expecting $2.28 per share, according to Thomson Reuters I/B/E/S.

Net income fell slightly to $365.7 million, or $1.65 per share, in the third quarter ended Sept. 30 from $367.8 million, or $1.68 per share, a year earlier.

Royal Caribbean earned $1.71 per share on an adjusted basis, higher than the average analyst estimate of $1.65.

Total revenue rose 3.5 percent to $2.31 billion, beating analyst estimates of $2.26 billion.

The company's stock was up at $41.61 in trading before the bell.

(Reporting by Chris Peters and Devika Krishna Kumar; Editing by Sriraj Kalluvila and Kirti Pandey)

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