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Royal Caribbean Cruises Ltd (RCL) Stock Surges on Q1 Earnings Beat

Royal Caribbean Cruises Ltd (RCL) saw it stock jump early on Friday following the release of its Q1 2016 earnings report.

Royal Caribbean, RCL stockRoyal Caribbean reported earnings per share of 46 cents for Q1 2016. This is up from the 20 cents it reported during the same time last year. It also beat out Wall Street’s estimates, which were set at 31 cents.

RCL’s revenue for the first quarter of the year was $1.92 billion. This is better than the $1.81 billion reported in Q1 2015 and it also matched what analysts were expecting from the company for the quarter.

Royal Caribbean is expecting EPS of $1.00 for Q2 2016 and analysts are estimating EPS of $1.23 for that period. The company added 25 cents to its 2016 EPS expectations, which now has them between $6.15 to $6.35. Wall Street is expecting 2016 EPS to be $6.09.

RCL shares opened at $78.40 on Friday, which was up roughly 3% from its closing price on Thursday. The price had dropped back down to near $76.00 as of 11:00 a.m today.

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