Carnival Corporation today reported record net income for its third quarter ended August 31, 2007 of $1.38 billion, or $1.67 diluted earnings per share (EPS) ,compared to net income for the third quarter of 2006 of $1.23 billion, or $1.49 diluted EPS. Revenues for the third quarter 2007 increased to $4.32 billion from $3.91 billion in the third quarter of 2006. Net income for the nine months ended August 31, 2007 was also a record at $2.05 billion, or $2.51 diluted EPS, on revenues of $9.91 billion, compared to net income of $1.86 billion, or $2.25 diluted EPS, on revenues of $9.03 billion for the same period in 2006.

Carnival Corporation Chairman and CEO Micky Arison said that third quarter results came in better than expected primarily due to stronger pricing on bookings taken closer to departure. “Our earnings were up 12 percent driven largely by the successful introduction of new ships for both our North American and European brands in time for our peak summer season. Our North American brands enjoyed another strong European season, a solid Alaska season, and a modest year over year improvement in revenue yields in the Caribbean. The recovery in the Caribbean has continued as the demand for Caribbean cruises remains strong,” Arison said. The company’s European brands benefited from strong improvements in operating results with increased revenue yields on a dollar basis due to stronger Euro and Sterling currencies. Local currency revenue yields were down against very strong comparisons with the previous year.

For more information on the European cruise boom read our story – Europe draws the cruise crowd.