Royal Caribbean: 1Q Earnings Snapshot

MIAMI (AP) _ Royal Caribbean Cruises Ltd. (RCL) on Wednesday reported a first-quarter loss of $1.44 billion, after reporting a profit in the same period a year earlier.

On a per-share basis, the Miami-based company said it had a loss of $6.91. Losses, adjusted for asset impairment costs and non-recurring costs, came to $1.48 per share.

The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 81 cents per share.

The cruise operator posted revenue of $2.03 billion in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $2.1 billion.

Royal Caribbean shares have fallen 68% since the beginning of the year. The stock has dropped 66% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RCL at https://www.zacks.com/ap/RCL