Tags: Carnival | Profit | Climbs | Revenue | Rises | Higher | Prices

Carnival’s Profit, Revenue Rise on Higher Prices

Tuesday, 21 Dec 2010 10:07 AM

Carnival Corp.'s fourth-quarter net income climbed 29 percent as revenue improved as an economic recovery allowed cruise operators to demand higher prices.

People are again feeling safe enough to plunk down thousands to travel at sea with the recession's harshest effects beginning to fade for many.

The cruise operator earned $248 million, or 31 cents per share, compared with $193 million, or 24 cents per share, a year ago.

The results narrowly missed analyst expectations of 32 cents per share, but the company's stock still rose nearly 2 percent in early trading.

The Miami company cautioned last month that a fire that left the Carnival Splendor adrift off Mexico's coast for three days would lower its earnings by 7 cents per share.

Revenue for the period ended Nov. 30 rose 7 percent to $3.5 billion, topping Wall Street's $3.36 billion.

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Carnival Corp.'s fourth-quarter net income climbed 29 percent as revenueimproved as an economic recovery allowed cruise operators to demandhigher prices. People are again feeling safe enough to plunk down thousands to travelat sea with the recession's harshest effects...
Carnival,Profit,Climbs,Revenue,Rises,Higher,Prices
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2010-07-21
Tuesday, 21 Dec 2010 10:07 AM
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