Carnival Stock Cruises to Another Beat-and-Raise Performance
The coast is clear for Carnival (NYSE: CCL) (NYSE: CUK) investors who were holding out for fresh financials to kick off the new trading week. The world's largest cruise line operator delivered a solid report for its fiscal third-quarter results on Monday morning, topping expectations on both ends of the income statement.
The strong performance isn't really a surprise. A record $8.3 billion in customer deposits at the end of May all but assured that it would be strong top-line results. A pair of analysts jacking up their price targets days before the report -- noting bullish operational catalysts including low fuel costs and strong passenger demand -- made it easy to predict an eighth consecutive beat on the bottom line.
It was still a well-navigated report for the cruising bellwether's seasonally potent summertime report. Let's get up to the ship's bridge for a clearer view.
Source Fool.com
