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Carnival Cruises Higher Thanks to Earnings

Investing.com

Investing.com - Cruise line company Carnival (NYSE:CCL) shot up in midday trading Friday as investors cheered a strong earnings report accompanied by bullish guidance.

Share rose 8.4%.

Carnival (NYSE:CCL) reported fiscal fourth-quarter earnings of 62 cents per share on revenue of $4.78 billion. Analysts were predicting a profit of 52 cents a share with revenue of about $4.6 billion, according to forecasts compiled by Investing.com.

Looking ahead, Carnival (NYSE:CCL) said it expects to earn 47 to 51 cents per share in its fiscal first quarter, higher than the 42 cents per share consensus from S&P Capital IQ.

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Guidance for the full year was for earnings of $4.30 to $4.60 per share, in line with expectations.

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