Carnival (CCL) Per Share Profit Doubles

Carnival (CCL) per-share profit almost doubled to 39 cents a share in the first quarter, a 95% year-over-year bump, topping expectations by 7 cents. Revenue grew over 3% to $3.65 billion, slightly above forecasts for $3.63 billion, marking the second straight quarter of earnings and sales acceleration for the cruise ship operator.

Carnival shares rose 4.2% to 51.72 in morning trade today. The stock also moved above its 200-day moving average.

The company raised the bottom end of its full-year EPS guidance to $3.20-$3.40, up from a prior outlook for $3.10-$3.40. But the midpoint of the newly updated range still comes in below current expectations for $3.37 a share for the year. Carnival sees Q2 EPS of 34-38 cents vs. views for 38 cents a share.

Competitor Royal Caribbean Cruises (RCL) saw its shares jump 4.9%.

CCL and RCL are Smart Investing in Turbulent Times stocks.

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