Carnival Q1: Lower Costs Drive Earnings

Carnival Corporation posted net income of $37 million for its first quarter ended Feb. 28, driven largely by lower operating costs, compared to a loss of $139 million last year.

Passengers spent less on their cruises this year than last year. The average spend on a cruise was $1,559 per passenger this year compared to $1,584 last year (tickets and onboard spending). The revenue per passenger per day was $192.15 this year, down from $196.53 last year. The average ticket price dropped to $146.53 per day from $151.65, while onboard spending rose to $45.15 per day from $44.39.

The net ticket price to Carnival was $113.53 per passenger per day this year, down from $115.36 last year. Net onboard revenue was $38.35 this year, up from $37.47 last year.

Net cruise costs, excluding fuel, were $93.06 per passenger per day for Q1 of this year, compared to $94.37 last year. Overall, operating costs this year were $216 million less than for the same period last year.

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