Carnival Corporation & Plc Q2 Profit Increases, Beats Estimates

(RTTNews) - Carnival Corporation & plc (CCL) reported a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $565 million, or $0.42 per share. This compares with $92 million, or $0.07 per share, last year.

Excluding items, Carnival Corporation & plc reported adjusted earnings of $470 million or $0.35 per share for the period.

Analysts on average had expected the company to earn $0.24 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 9.5% to $6.328 billion from $5.781 billion last year.

Carnival Corporation & plc earnings at a glance (GAAP) :

-Earnings: $565 Mln. vs. $92 Mln. last year. -EPS: $0.42 vs. $0.07 last year. -Revenue: $6.328 Bln vs. $5.781 Bln last year.

Josh Weinstein, CEO of Carnival Corporation, said: "Our amazing team delivered yet another phenomenal quarter, more than tripling adjusted net income driven by record net yields (in constant currency) and strong close-in demand. We also remain on track for a strong 4 percent net yield growth in the second half, consistent with what we forecasted back in December which was before the complex macroeconomic and geopolitical backdrop we have all experienced in the last few months."