MIAMI (AP) — MIAMI (AP) — Carnival Corp. (CCL) on Friday reported fiscal third-quarter net income of $1.07 billion, after reporting a loss in the same period a year earlier.
On a per-share basis, the Miami-based company said it had net income of 79 cents. Earnings, adjusted to extinguish debt and for non-recurring costs, were 86 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.
The cruise operator posted revenue of $6.85 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $6.72 billion.
For the current quarter ending in November, Carnival expects its results to range from a loss of 18 cents per share to a loss of 10 cents per share.
The company expects full-year results to range from a loss of 12 cents per share to a loss of 4 cents per share.
Carnival shares have increased 79% since the beginning of the year, while the S&P's 500 index has increased 12%. The stock has climbed 47% 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