Carnival Posts Small Profit For Fourth Quarter

The Associated Press

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Carnival Cruise Lines posted a small but surprising fourth-quarter profit as it continues to look for a turnaround after its image was hurt by mechanical problems and fires on three ships earlier this year.

Its net income of $66 million, or 8 cents per share, plunged 29 percent compared to a year earlier. Its adjusted profit was 4 cents per share. That was still better than the break-even result expected by analysts surveyed by FactSet.

Revenue rose 2 percent to $3.66 billion, also better than analysts expected.

The number of passengers it carried was 3 percent higher than a year earlier.

Carnival has struggled after a ship breakdown stranded passengers for five days in the Gulf of Mexico. After that, two other ships had to be towed back to port.

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