Royal Caribbean shares sail higher as cruise demand takes off
Shares of Royal Caribbean jumped around 10% after the cruise line sailed past Wall Street’s Q4 earnings expectations. Royal Caribbean’s earnings per share came in at $1.63 for the quarter, well over Wall Street’s forecasts for $1.50. Quarterly profits nearly doubled to $553 million. Meanwhile, revenues of $3.76 billion were roughly in line with expectations.
The cruise giant also raised its annual forecast as more customers lined up to book getaways this year, despite facing record high prices. Royal Caribbean also announced plans to launch its new Celebrity River Cruises, which will include 10 new ships and set sail in 2027. Shares of rival cruise companies Carnival and Norwegian Cruise Line were also up on the results.
The cruise giant also raised its annual forecast as more customers lined up to book getaways this year, despite facing record high prices. Royal Caribbean also announced plans to launch its new Celebrity River Cruises, which will include 10 new ships and set sail in 2027. Shares of rival cruise companies Carnival and Norwegian Cruise Line were also up on the results.
