Why Royal Caribbean Cruises Shares Sank 25.3% in May
Shares of Royal Caribbean Cruises (NYSE: RCL) sank 25.3% in May, according to S&P Global Market Intelligence. The cruise ship operator posted a bad first-quarter earnings result and is still feeling the ramifications of the pandemic. As of this writing, shares are down 27.7% this year.
On May 5, Royal Caribbean released its first-quarter earnings report. Revenue was $1.06 billion in the period, and there was a loss per share of $4.57. Both numbers were below analyst expectations for the period, causing the stock to sell off in the days after the report.
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Source Fool.com
