Royal Caribbean raised its full-year earnings guidance Tuesday after posting second-quarter results that beat Wall Street profit expectations, according to CNBC. The cruise line now expects full-year EPS of $15.41 to $15.55, up from previous guidance of $14.55 to $15.55. Adjusted EPS came in at $4.38 on $4.54 billion in revenue, with income rising to $1.2 billion. CEO Jason Liberty said travelers are vacationing more often and seeking experience-driven trips, with 75% planning to maintain or increase leisure travel spending. Royal Caribbean saw an increase in bookings during the second quarter, particularly from travelers booking closer to departure. Liberty linked this trend to younger cruisers, who now make up about half of all guests and are willing to pay a premium. Shares fell 5% Tuesday.
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