March 26, 2019 / 1:29 PM / 3 months ago

Carnival cuts 2019 profit forecast on higher fuel costs, stronger dollar

March 26 (Reuters) - Carnival Corp cut its annual profit forecast on Tuesday, blaming higher fuel prices and the impact of a strong dollar, sending shares of the world's largest cruise operator down 5 percent.

The company said it now expects adjusted earnings of $4.35 to $4.55 per share in 2019, compared with $4.50 to $4.80 estimated previously.

However, Carnival's first-quarter revenue rose to $4.67 billion from $4.23 billion in the year-ago period, due to higher ticket prices and on-board spending.

Analysts were expecting revenue of $4.31 billion, according to IBES data from Refinitiv. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Shinjini Ganguli)

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