Considering the Costa disaster, Carnival's third quarter results aren't that bad
Skift Take
Carnival's advantage in this market is its incredible value proposition to cruisers. Despite Costa's sinking consumers are drawn by its low, low prices and promise of a sunny escape from bad economic news at home.
Net income was slightly down at $1.33 billion and revenues dropped from about $5.1 billion in the third quarter of 2011 to nearly $4.7 billion for the three months ending Aug. 31 this year. That $1.33 billion includes $136 million of unrealized gains through the company's fuel derivatives program, which mitigates risk from fuel price hikes.
Excluding those unrealized gains, net income was $1.2 billion or $1.53 diluted earnings per share, hi
