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Carnival Corp cruises ahead of Wall Street forecasts

Published: 11:51 30 Mar 2016 EDT

CruiseLiner
The group is the world’s largest cruise ship operator

British-American cruise operator Carnival Corp (NYSE:CCL) surpassed analyst expectations after a robust first quarter.

For the six months ended December 2015, it reported revenue of $3.65bn, just ahead of Wall Street expectations of around $3.62bn.

The Miami-based group reported fiscal first-quarter net income of $142mln and saw a net income of 18 cents (c) per share. Adjusted earnings stood at 31 cents per share.

For the current quarter ending in June, Carnival expects earnings per share to range from 34c to 38c, with full-year earnings in the range of $3.20 to $3.40 per share.

The group is the world’s largest cruise ship operator with a fleet size of over 100 vessels.

Since January shares have slumped 9%, while the S&P500 index rose 0.5%.

Shares rose 4% to $51.70.

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