Royal Caribbean Cruises Ltd (NYSE:RCL) shares traded higher after the cruise operator reported third quarter earnings that exceeded expectations and raised its full-year profit outlook.
The stock gained 3.7% at US$85.29 late morning on Thursday.
For 3Q, the cruise company reported revenues of $4.2 billion, ahead of the Street expectation of $4.02 billion.
Earnings per share (EPS) were $3.85 per share, compared to $0.26 in the year-ago quarter and topping estimates of $3.43.
On strong demand and strength in onboard revenue, the company increased its full-year adjusted EPS guidance to a range of $6.58 to $6.63, compared to its prior guidance range of $6 to $6.20.
Analysts were expecting full-year 2023 adjusted EPS of $6.05.
"The strength of our brands and the acceleration of consumer spending on experiences have propelled us towards another outstanding quarter and a robust 2023," Royal Caribbean Cruises CEO Jason Liberty said in a statement.
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