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Carnival Corp Stock Pops on Q4 Earnings Beat

Carnival Corp (NYSE:CCL) stock was up today on an earnings beat for the fourth quarter of 2017.

Carnival Corp Stock Pops on Q4 Earnings Beat
Carnival Corp Stock Pops on Q4 Earnings Beat

Source: Via Carnival

During the fourth quarter of the year, Carnival Corp reported earnings per share of 63 cents. This is down from its earnings per share of 67 cents from the same time last year. However, it was still good news for CCL stock by beating Wall Street’s earnings per share estimate of 51 cents for the period.

Carnival Corp also reported net income of $452 million during the fourth quarter of 2017. This is down from its net income of $491 million that was reported in the fourth quarter of the previous year.

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Revenue reported by Carnival Corp in the fourth quarter of the year was $4.26 billion. This is an increase over its revenue of $3.94 billion that was reported in the same period of the year prior. It was also a boon to CCL stock by coming in above analysts’ revenue estimate of $4.15 billion for the quarter.

Carnival Corp also provided its outlook for the full year of 2018 in its most recent earnings report. The cruise company says it is expecting earnings per share for the year to range from $4.00 to $4.30. Earnings per share for 2017 came in at $3.82. Wall Street is looking for earnings per share of $4.29 in 2018.

Carnival Corp also put out guidance for the first quarter of 2018 in its earnings report. It is expecting earnings per share for the quarter to come in between 37 cents and 41 cents. Earnings per share from the first quarter of 2017 was 38 cents. Analysts are estimating earnings per share of 46 cents for the first quarter of 2018.

CCL stock was up 2% as of Tuesday morning and is up 24% year-to-date.

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As of this writing, William White did not hold a position in any of the aforementioned securities.

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The post Carnival Corp Stock Pops on Q4 Earnings Beat appeared first on InvestorPlace.

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