Carnival Corporation announces quarter end results
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Carnival Corporation & plc reported a net income of US$175 million, or $0.22 diluted EPS, on revenues of $3.1 billion for its first quarter ended February 28, 2010. Carnival Corporation & plc Chairman and CEO Micky Arison indicated that operating results in the first quarter 2010 were better than expected.Commenting on the first quarter, Arison said, “We were very encouraged by our results as pricing continued to rebound off last year’s lows and we returned to top line revenue growth after a challenging 2009. During the quarter, the booking environment continued to improve for our North American brands and we achieved stronger than expected pricing on close in bookings. In addition, we continue to realize significant cost savings worldwide, though the strength of our performance was masked by rising fuel prices.” Higher fuel prices reduced earnings in the first quarter by $0.22 per share as compared to the prior year.
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