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Royal Caribbean Cruises' 4th-qtr earnings tumble 98 percent

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JoeyandDavid

By JoeyandDavid
in Royal Caribbean

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JoeyandDavid

JoeyandDavid

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Cruise operator Royal Caribbean says fourth-quarter earnings tumbled 98 percent, missing Wall Street's expectations, reflecting a sharp drop in bookings, higher-than-expected fuel costs and unfavorable foreign exchange rates.

For the quarter, Royal Caribbean Cruises Ltd. reports earnings of $1.4 million, or 1 cent per share, down from $70.8 million, or 33 cents per share, a year ago.

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