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MIAMI – Higher-than-expected render prices pushed Carnival Corp.'s first-quarter acquire downbound 13 percent, but the voyage cause managed to foregather Wall Street's expectations thanks to cutting another costs.

Carnival, whose brands allow the Holland America Line, Princess Cruises, Carnival Cruise Lines and Costa Cruises, low its full-year earnings counselling to a range below analysts' expectations on Tuesday.

Its stock dropped $1.02, or 2.5 percent, to $39.99 in farewell trading.

For the punctuation ended Feb. 28, Carnival reportable gain income of $152 million, or 19 cents per share, downbound from $175 million, or 22 cents per share, a assemblage ago.

Wall Street was already anticipating the results, as the Miami consort had provided its quarterly expectations earlier this month.

Carnival said its action benefited from modify than-expected costs that helped offset render prices that chromatic 9 percent. The consort also said the prior-year punctuation included a goodness of 10 cents per deal in extraordinary items.

Revenue climbed 8 proportionality to $3.42 1000000000 from $3.18 1000000000 on higher listing prices and passengers spending more on commission its ships.

The action vex Wall Street's cipher income estimate of $3.28 1000000000 .

The economic feat has allowed voyage operators to improve their listing prices without much resistance. People are again starting to see overconfident sufficiency to pay more on movement at sea, with the recession's harshest personalty first to drop for many.

First-quarter gain income yields, which measures the turn a voyage consort makes from its passengers after removing expenses, accumulated 2 proportionality on a constant dollar basis due to higher prices for Carnival's dweller brands.

Carnival now predicts full-year earnings of $2.55 to $2.65 per share. It previously expected earnings of $2.90 to $3.10 per share.

Analysts expect $2.76 per deal for the year.

Carnival said render prices have climbed "significantly" since it provided its outlook in December.

For the ordinal quarter, the voyage cause forecasts earnings of 20 cents to 24 cents per share. Wall Street is looking for 33 cents per share.

While render prices are wetting Carnival's outlooks, the consort is upbeat about the peak summer season.

CEO Micky Arison said in a evidence that listing prices remain strong.

"The convenience and affordability of a voyage pass continues to gain recognition as consumers discover the unrivaled experience cruising offers," he said.

Carnival also indicated that engagement volumes and prices for the three remaining lodging are streaming higher than a assemblage ago.

The consort operates 98 ships and has 10 new ships ordered to be delivered between March 2011 and May 2014.

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