Carnival Corp saw lower profit for the first three months of fiscal 2019 but still beat Wall Street consensus.
The world's largest cruise company reported net income of $336m, down from $391m a year earlier.
On an adjusted basis, earnings came in at $338m compared to $375m during the same period last year.
Adjusted results led to adjusted earnings per share of $0.49, beating analysts' estimates by $0.05 but below last year's adjusted EPS of $0.52.
Adjusted net income excludes a $2m net charge on fuel versus a $16m net gain a year earlier related to unrealized gains on fuel derivatives.
Revenues for the first quarter of 2019 were $4.7 billion, higher than the $4.2 billion in the prior year.
"First quarter earnings included revenue growth from higher capacity and improved onboard spending, offset by the timing of cost increases and a drag from fuel price and currency compared to the prior year," chief executive Arnold Donald said.
2019 bookings ahead of last year
Carnival's cumulative advanced bookings for the remainder of 2019 are ahead of 2018 at this time in the fiscal year, which starts in November for Carnival.
"Booking trends achieved during wave season rivaled last years' historical highs and were consistent with the demand trends we experienced going into the year, building further confidence in our full year guidance," Donald said.
He said the company's North America and Australia brands are booked ahead of 2018 at higher prices while Europe and Asia brands are ahead of last year at lower prices.
"Our brands are strong and growing, including Continental Europe, where we continue to expect revenue growth driven by double-digit capacity increases," he said.
