Shares of Royal Caribbean (NYSE:RCL) saw a rise of over 2% intra-day today due to impressive third-quarter results and an upward revision in their guidance.
For the third quarter, the cruise company posted an adjusted EPS of $3.85, surpassing the expected $3.47. Their revenue also witnessed a 39% growth, reaching $4.16 billion and exceeding the anticipated $4.05 billion.
The superior performance, as stated by the company, can be attributed to heightened demand in last-minute bookings and a notable increase in onboard revenue.
Moreover, based on the robust demand and continued onboard revenue growth, Royal Caribbean raised its forecast for the full-year adjusted EPS to a range of $6.58 to $6.63, which is considerably higher than the previously estimated consensus of $6.15.