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Royal Caribbean beats quarterly revenue estimates

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(Reuters) – Royal Caribbean Cruises Ltd reported quarterly revenue that edged past Wall Street estimates on Wednesday, benefiting from higher on-board spending and demand for Caribbean cruises.

The company’s net income rose to $320.5 million, or $1.50 per share, in the fourth quarter ended Dec. 31, from $288 million, or $1.34 per share, a year earlier.

Total revenue rose to $2.33 billion (1.78 billion pounds) from $2 billion, beating analysts’ estimates of $2.31 billion, according to IBES data from Refinitiv.

(Reporting by Uday Sampath in Bengaluru; Editing by Maju Samuel)

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