UPDATE 3-Royal Caribbean Cruises profit beats as Caribbean market rebounds
* 3rd-qtr profit $2.84/shr vs. est. $2.71
* Revenue up 5.4 pct at $2.52 bln
* Raises full-year forecast to $4.80/shr
* Shares touch all-time high (Adds CFO quote, outlook from conference call, updates share move)
By Nayan Das
Oct 23 (Reuters) - Royal Caribbean Cruises Ltd, the world's No.2 cruise operator, reported a better-than-expected quarterly profit as customers spent more onboard and demand rebounded in its Caribbean market.
Shares of the company, which also raised its full-year profit forecast and announced a $500 million share buyback program, touched an all-time high of $98.54 on Friday.
The company has been struggling to boost sales for the last two years in its biggest market, the Caribbean, as excess capacity in that region led to intense competition from larger rival Carnival Corp and other operators such as MSC Cruises.
"Sales in the Caribbean are trending much more favorably at this point than last year," Royal Caribbean's Chief Financial Officer Jason Liberty said on a conference call. "The momentum in the Caribbean this year will continue into 2016." Continuación...