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Carnival Posts Gains In 3Q

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MIAMI (CBSMiami.com) – The souring economy may be taking a chunk out of most people’s pocketbook, but it’s not impacting everyone’s desire to get away as evidenced by Miami-based Carnival Corporation’s latest numbers.

Carnival’s third-quarter net income jumped three percent thanks to lower costs and strong ticket prices during the summer.

Carnival earned $1.34 billion, or $1.69 a share, for the period that ended August 31. Revenue jumped 12 percent to $5.06 billion. Analysts had forecast earnings of $1.64 a share on revenue of $4.9 billion.

Carnival said it will earn 26 to 30 cents per share in the fourth quarter and $2.40 to $2.44 per share for the year.

(TM and © Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2010 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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