Carnival PLC (CUK) stock surged 5.3% in the pre-market trading session on Friday, driven by the cruise operator's better-than-expected fourth-quarter earnings report and an optimistic outlook for the upcoming fiscal year.
The company reported an adjusted profit of $0.14 per share for the fourth quarter of fiscal 2024, surpassing analysts' expectations of $0.08 per share. Revenue for the quarter also beat estimates, reaching $5.94 billion, up from $5.40 billion a year earlier.
Carnival's strong financial performance and positive guidance for fiscal 2025 have fueled investor optimism. The company expects to achieve breakeven adjusted earnings in the first quarter of fiscal 2025 and projects adjusted earnings per share of $1.70 for the full year, exceeding analysts' forecasts of a $0.02 loss and $1.75 EPS, respectively.
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