Carnival Q3 profit beats estimates, raises outlook

[LOS ANGELES] Carnival Corp, the world's largest cruise line operator, raised its full-year earnings forecast after reporting third-quarter profit that beat analysts' estimates as more passengers took trips.

Earnings excluding one-time items are forecast to be US$1.84 to US$1.88 a share, more than the previous forecast of as much as US$1.75, Miami-based Carnival said in a statement. Profit for the quarter ended Aug 31 was US$1.58, more than the US$1.44 average of 15 analysts' estimates compiled by Bloomberg.

Carnival has won back customers after mishaps that included the wreck of its Costa Concordia in 2012 and a fire aboard the Triumph last year that left passengers stranded in the Gulf of Mexico. Under chief executive officer Arnold Donald, who took over from Micky Arison in July 2013, the company invested in marketing and safety technology, and repaired relationships with travel agents.