Carnival Corporation (CCL) has reported an 147.89 percent jump in profit for the quarter ended Feb. 28, 2017. The company has earned $352 million, or $0.48 a share in the quarter, compared with $142 million, or $0.18 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $279 million, or $0.38 a share compared with $301 million or $0.39 a share, a year ago.
Revenue during the quarter grew 3.83 percent to $3,791 million from $3,651 million in the previous year period. Total expenses were 90.29 percent of quarterly revenues, up from 88.11 percent for the same period last year. That has resulted in a contraction of 218 basis points in operating margin to 9.71 percent.
Operating income for the quarter was $368 million, compared with $434 million in the previous year period.
Carnival Corporation & plc president and chief executive officer Arnold Donald noted, "We are off to a good start delivering another quarter of operational improvement on top of a very strong first quarter last year. Our performance was driven by increased demand, particularly for our core Caribbean itineraries, leading to higher year-over-year ticket prices which enabled us to overcome the significant negative impact of both fuel and currency to exceed the high end of our guidance range."
For the second-quarter 2017, Carnival Corporation forecasts revenue to grow in the range of 2.50 percent to 3.50 percent. On an adjusted basis, the company expects diluted earnings per share to be in the range of $0.43 to $0.47.
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