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Carnival profit misses consensus by 55.2% in fiscal Q1

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Carnival profit misses consensus by 55.2% in fiscal Q1

Carnival Corp. said its normalized net income for the fiscal first quarter ended Feb. 28 amounted to 4 cents per share, compared with the S&P Capital IQ consensus estimate of 9 cents per share.

The per-share result swung to a profit from the prior-year loss of 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $32.5 million, compared with a loss of $11.9 million in the prior-year period.

The normalized profit margin climbed to 0.9% from negative 0.3% in the year-earlier period.

Total revenue decreased on an annual basis to $3.53 billion from $3.58 billion, and total operating expenses declined on an annual basis to $3.43 billion from $3.53 billion.

Reported net income came to $46.7 million, or 6 cents per share, compared with a loss of $23.3 million, or a loss of 3 cents per share, in the year-earlier period.