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MIAMI (AP) — MIAMI (AP) — Royal Caribbean Cruises Ltd. (RCL) on Thursday reported a loss of $47.9 million in its first quarter.
The Miami-based company said it had a loss of 19 cents per share. Losses, adjusted for non-recurring gains, were 23 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 71 cents per share.
The cruise operator posted revenue of $2.89 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $2.83 billion.
For the current quarter ending in June, Royal Caribbean expects its per-share earnings to range from $1.50 to $1.60. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.47.
The company expects full-year earnings in the range of $4.40 to $4.80 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a RCL">Zacks stock report on RCL at https://www.zacks.com/ap/RCL