Carnival beats 3Q earnings and revenue expectations

MarketsAssociated Press

Carnival Corp. (CCL) on Tuesday reported fiscal third-quarter profit of $1.22 billion.

On a per-share basis, the Miami-based company said it had net income of $1.56. Earnings, adjusted for non-recurring costs and restructuring costs, came to $1.75 per share.

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The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.63 per share.

The cruise operator posted revenue of $4.88 billion in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $4.78 billion.

For the current quarter ending in December, Carnival expects its per-share earnings to range from 36 cents to 40 cents.

The company expects full-year earnings in the range of $2.56 to $2.60 per share.

Carnival shares have climbed 16 percent since the beginning of the year, while the Standard & Poor's 500 index has dropped 4.5 percent. The stock has climbed 29 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CCL at http://www.zacks.com/ap/CCL

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Keywords: Carnival, Earnings Report