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Royal Caribbean Tops Q2 Expectations, Shares Move Higher

Royal Caribbean Cruises Ltd (NYSE: RCL) released its Q2 results before the open on Tuesday. Earnings per share came in above Wall Street consensus expectations.

Royal Caribbean reported EPS of $1.09 and revenues of $2.10 billion. Analyst consensus had an EPS estimate of $1.02 and revenues of $2.167 billion.

"Our business remains strong and we continue to improve our return profile," said CEO Richard Fain. "This keeps us solidly on our path towards the Double-Double."

"While there are always puts and takes in our key markets, our portfolio is performing as expected, our booked position remains strong, and our newbuilds are entering their markets to great fanfare," said CFO Jason T. Liberty.

Royal Caribbean management saw Q3 EPS at about $3.10 vs. estimates of $3.39 and FY16 earnings per share between $6.00-$6.10 vs. estimates of $6.21.

At time of writing, Royal Caribbean traded at $72.75 in Tuesday's pre-market session, up 1.2 percent.

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