Carnival Corp (NYSE:CCL) stock was on the rise Tuesday following the release of its earnings report for the third quarter of 2017.
During the third quarter of the year, Carnival Corp reported earnings per share of $2.29. This is an increase over its earnings per share of $1.92 that it reported in the third quarter of 2016. It was also good news for CCL stock by coming in above Wall Street’s earnings per share estimate of $2.20 for the quarter.
Revenue reported by Carnival Corp in the third quarter of 2017 was $5.52 billion. This is up from the $5.10 billion in revenue that it reported during the same time last year. The company’s revenue was also a boon to CCL stock by beating analysts’ estimate of $5.39 billion for the third quarter of the year.
Carnival Corp reported operating income of $1.39 billion in the third quarter of 2017. The cruise company reported operating income of $1.56 billion in its third quarter of the year prior.
Net income reported by Carnival Corp in the third quarter of the year was $1.33 billion. This is down from its net income of $1.42 billion that was reported in the same period of the previous year.
Carnival Corp also updated its guidance for the full year of 2017 in its most recent earnings report. The company is expecting earnings per share for the year to range from $3.64 to $3.70. Its previous guidance had earnings per share ranging from $3.60 to $3.70. Wall Street is expecting CCL to report earnings per share of $3.73 in 2017.
CCL stock was up 3% as of Tuesday morning and is up 25% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
