Carnival Corp.'s third-quarter profit rose 12 percent as the world's largest cruise operator benefited from higher booking prices and new ships in North America and Europe, lifting shares as much as 5 percent.
While the latest quarterly results beat Wall Street expectations, Carnival warned its fourth-quarter results could come in lower than in the year-earlier period due to higher fuel costs. Nonetheless, it said full-year earnings could reach the higher end of its previous expectations.
The Miami-based company reported net income of $1.38 billion, or $1.67 cents per share, for the third quarter ended Aug. 31, versus $1.23 billion, or $1.49 per share, a year earlier.
Revenue rose to $4.3 billion from $3.9 billion in the same period last year.
Analysts surveyed by Thomson Financial expected earnings of $1.62 per share on sales of $4.3 billion.