New York - Carnival Corp, the world's largest cruise-line operator, Tuesday reported first-quarter profits after cutting costs and offering heavy discounts.
The Miami-based Carnival said its net income was 260 million dollars, up from 236 million dollars a year earlier. Sales dropped 9.1 per cent to 2.86 billion dollars in the three months ending February 28.
"Considering the economic climate, achieving higher quarterly net income is quite remarkable," Carnival CEO Micky Arison said in a statement.