Looking ahead, the company provided earnings guidance for the third quarter below Street view, but raised its earnings outlook for fiscal 2014.
Carnival noted that its earnings for the latest quarter were significantly better than anticipated in its March guidance due to better than expected net revenue yields for most of the company's cruise brands, as well as lower than expected net cruise costs.
The latest quarter's results include net gain on vessel transactions of
Excluding items, adjusted net income for the latest quarter was
On average, 15 analysts polled by
Revenues for the quarter grew 4% to
Revenues from cruise passenger ticket sales rose 3% from the same period last year to
On a constant dollar basis, net revenue yields or net revenue per available lower berth day or ALBD, decreased 2.2% for the quarter, but was better than the company's guidance for a decline of 3 to 4%.
Meanwhile, net cruise costs excluding fuel per ALBD increased 1.2% in constant dollars, primarily due to higher dry-dock costs, as well as advertising and promotion expenses.
The company's operating costs and expenses for the quarter increased 5% to
Looking ahead to the third quarter, Carnival forecast adjusted earnings in a range of
For fiscal 2014, Carnival raised its outlook for adjusted earnings to a range of
The company projects full-year revenues to be higher compared to the prior year and continues to expect net revenue yields on a constant dollar basis to be down slightly compared to the prior year, or flat to up slightly on a current dollar basis.
Carnival noted that since March, its fleetwide booking volumes for the next three quarters were running slightly behind last year at higher prices. Meanwhile, cumulative advance bookings for the remainder of 2014 are currently slightly ahead of the prior year at higher prices.
In Tuesday's regular trading session, CCL is currently trading at
CCL.L is currently trading on the
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