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Carnival Posts 1st Quarter Profit

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Miami Heat

MIAMI (CBSMiami) – Carnival Corporation has dealt with problems on two ships this week and a major issue in February with the Triumph, but that hasn’t dampened the company’s profits in the fiscal first quarter.

Carnival said it returned to profit in the first quarter, but the forecast for the year came in below predictions from Wall Street and the company’s shares dropped more than four percent in early morning trading.

According to Carnival, the company earned $37 million, or five cents per share, for the quarter that ended February 28. Last year, Carnival posted a loss of $139 million, or 18 cents per share.

Overall revenue rose slightly to $3.59 billion, but analysts had predicted roughly $3.64 billion.

The first-quarter results come one day after Carnival said there was a “technical issue” on the Carnival Legend. That same day Carnival flew passengers from the Carnival Dream home after it was stranded by an on-board generator problem.

(TM and © Copyright 2013 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2013 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 This material may not be published, broadcast, rewritten, or redistributed.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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