MIAMI (AP) — MIAMI (AP) — Carnival Corp. (CCL) on Friday reported fiscal fourth-quarter net income of $303 million, after reporting a loss in the same period a year earlier.
The Miami-based company said it had net income of 23 cents per share. Earnings, adjusted for one-time gains and costs, were 14 cents per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The cruise operator posted revenue of $5.94 billion in the period, which met Street forecasts.
Carnival expects full-year earnings to be $1.70 per share.
Carnival shares have increased 36% since the beginning of the year, while the S&P’s 500 index has risen 23%. The stock has risen 35% 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 https://www.zacks.com/ap/CCL
