Carnival Posts Small Profit For Fourth Quarter
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.