RELATED ARTICLE: Cruise Line Stocks Crash Further As Europe Clamps Down<\/a><\/strong><\/em><\/p>\n<\/p>\n
While the category of passenger-ticket revenue was positive last quarter, at $3.2 million, \u201conboard and other revenues\u201d were negative $36.9 million. \u201cThis quarter we identified immaterial credits and refunds on bookings that were previously incorrectly recognized as cancellation revenue and reversed those revenues,\u201d said Rob Zeiger, a Royal Caribbean spokesman.<\/p>\n
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Royal Caribbean joins a small, unhappy club of S&P 500 companies reporting negative quarterly revenue. Cincinnati Financial Corp. this year reported first-quarter revenue of negative $99 million, slammed by investment losses.<\/p>\n
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In all, only 18 S&P 500 companies in the past quarter-century have reported negative revenue, including four in the quarter ended March 2008.<\/p>\n
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Like the rest of the cruise industry, Royal Caribbean is eagerly looking forward to the resumption of even a partial cruise schedule \u2014 though the current Covid-19 resurgence threatens that. Carnival Corp.\u2019s Aida Cruises brand just canceled its planned October and November sailings from Germany after new lockdown restrictions in that country.<\/p>\n
gCaptain<\/p>\n","protected":false},"excerpt":{"rendered":"
Revenue was negative $33.7 million in the period, down from year-earlier positive revenue of $3.19 billion, Royal Caribbean said Thursday. The Miami-based company swung to an adjusted net loss of $1.2 billion from a profit of $896.8 million last year. RELATED ARTICLE: Cruise Line Stocks Crash Further As Europe Clamps Down While the category of …<\/p>\n","protected":false},"author":1,"featured_media":20447,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[56],"tags":[2240,2052,1154,1153,12698,1320,5082,1194,1880,1231,1574,1527,1070,72],"class_list":["post-20446","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-marine-world","tag-brings","tag-caribbean","tag-covid19","tag-cruise","tag-gigantic","tag-largest","tag-losses","tag-negative","tag-owners","tag-reports","tag-revenue","tag-royal","tag-ship","tag-worlds"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/20446","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=20446"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/20446\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/20447"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=20446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=20446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=20446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}