Why Royal Caribbean Shares Slid Today
Shares of Royal Caribbean (NYSE: RCL) were sinking Friday after the cruise line giant reported a larger-than-expected hole in its fourth-quarter earnings before the market opened. As of 1:15 p.m. ET, the stock was down by 3.3%.
The thing is, ahead of the Q4 release, analysts weren't even particularly upbeat about the company's prospects, forecasting sales of only $1 billion and a $3.92 per share pro forma loss for the quarter. But even those numbers turned out to be over-optimistic: Royal Caribbean reported that it actually lost $4.78 per share on sales of $982.3 million.
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Source Fool.com
