MIAMI (AP) — MIAMI (AP) — Carnival Corp. (CCL) on Thursday reported a loss of $48 million in its fiscal fourth quarter.
The Miami-based company said it had a loss of 4 cents per share. Losses, adjusted for one-time gains and costs, were 7 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.
The cruise operator posted revenue of $5.4 billion in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $5.32 billion.
For the year, the company reported that its loss narrowed to $74 million, or 6 cents per share. Revenue was reported as $21.59 billion.
Carnival shares have more than doubled since the beginning of the year, while the S&P’s 500 index has risen 23%. The stock has more than doubled in the last 12 months.
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