Carnival returns to profit in 1st quarter

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Associated Press

Posted on March 15, 2013 at 8:01 AM

Updated Friday, Mar 15 at 8:01 AM

MIAMI (AP) — Carnival Corp., which has dealt with problems on two of its ships this week, says it returned to a profit in its first quarter.

But its forecast for the year came in below analyst's predictions. Its shares fell more than 4 percent in morning trading.

The world's biggest cruise line earned $37 million, or 5 cents per share, for the period ended Feb. 28. That compares with a loss of $139 million, or 18 cents per share, a year earlier.

Adjusted earnings were 8 cents per share. Analysts had expected 3 cents per share.

Revenue rose slightly to $3.59 billion. Analysts expected $3.64 billion.

The first-quarter results come one day after Carnival said there was a "technical issue" on the Carnival Legend. That same day Carnival flew passengers from the Carnival Dream home after it was stranded by an on-board generator problem.

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