World Markets

Cruise company Carnival's profit falls 9.5 percent


Dec 20 () - Carnival Corp, the world's largest cruise operator, on Thursday reported a 9.5 percent fall in quarterly profit, hurt by higher food and fuel costs, and forecast first-quarter profit below analysts' estimates, sending its shares down 6 percent before the bell.

The company's net income fell to $494 million, or 71 cents per share, in the fourth quarter ended Nov. 30, from $546 million, or 76 cents per share, a year earlier.

Net revenue climbed 4.6 percent to $4.46 billion.

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