Royal Caribbean's Revenue up 5.6%

Royal Caribbean Cruises Ltd reported a 5.6 percent rise in quarterly revenue, helped by higher passenger ticket revenue and onboard spending, sending the company's shares up 4 percent in premarket trading.

Royal Caribbean also raised its full-year earnings forecast to $6.15-$6.35 per share from $5.90 to $6.10.

The company said net revenue per available berth, or net yields, rose 7 percent on a constant-currency basis in the first quarter ended March 31.

Passenger ticket revenue rose 5.5 percent, while onboard revenue rose 6 percent.

Net income attributable to the company jumped to $99.1 million, or 46 cents per share, from $45.2 million, or 20 cents per share, a year earlier.

The company's total revenue rose to $1.92 billion from $1.82 billion.

Royal Caribbean's shares were at $79.50 before the bell on Friday after closing at $76.02 on Thursday.

 

Reporting by Yashaswini Swamynathan