The company many love to hate is still making money
Royal Caribbean Cruises revealed in its results on Tuesday that although the cruise business was hit by the recession, it still managed to make money, albeit at a slower pace than before. Revenues were $1.76 billion in the third quarter, 17% less than in the same period last year, while profits were 44% down to $230.4 million. All in all, not bad, but even better news is around the corner as the company forecasts making a loss in 4th quarter, after which sailing should be much smoother for the providers of sardine, ah, okay, value-for-money, all-you-can-eat cruises. Read more: BusinessWeek
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