Carnival 1Q Net Income Falls On Higher Fuel Prices
MIAMI - Carnival Corp. says its first-quarter net income fell 13 percent, pinched by higher-than-expected fuel prices.
The Miami company earned $152 million, or 19 cents per share, for the period ended Feb. 28. That's down from $175 million, or 22 cents per share, a year ago.
Wall Street was already anticipating slimmer earnings and Carnival said lower than-expected costs helped offset fuel prices that rose 9 percent.
Revenue rose 8 percent to $3.42 billion on higher ticket prices and passengers spending more on board its ships.
The performance beat Wall Street's $3.28 billion estimate.
Carnival's brands include the Holland America Line, Princess Cruises, Carnival Cruise Lines and Costa Cruises.
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