Carnival Posts Record Q3 Revenue of $8.43B as Profit Rises to $1.92 Billion

Carnival Corporation reported third-quarter results that beat Wall Street estimates on both the top and bottom lines, sending shares higher on September 29. Revenue reached a record $8.43 billion, topping forecasts by roughly $40 million, while non-GAAP earnings per share of $1.43 came in $0.08 ahead of consensus expectations.

Net income for the quarter rose to $1.92 billion, or $1.40 per share, up from $1.85 billion, or $1.33 per share, in the same period a year earlier. The results reflect accelerating consumer demand for cruises, continuing a run of record revenue performance for the company.

The earnings beat is notable given that Carnival had issued Q3 adjusted EPS guidance of $1.35 per share following its second-quarter report in June, well below the analyst consensus at the time of $1.42. The company cleared both its own guidance and that revised analyst bar by a meaningful margin. Carnival stock surged following the announcement.