CarnivalCCLEarnings & Financial Report
Carnival is the world's largest leisure travel group specializing in cruise operations. It owns multiple globally recognized cruise brands, serving millions of passengers yearly, offering all-inclusive vacation experiences covering accommodation, catering, entertainment, and shore excursions across global popular destinations.
Revenue
$5.8B
Gross Profit
$2.0B
Operating Profit
$560.0M
Net Profit
$92.0M
Gross Margin
34.3%
Operating Margin
9.7%
Net Margin
1.6%
YoY Growth
17.7%
EPS
$0.07
Carnival Q2 FY2024 Financial Summary
Carnival reported revenue of $5.8B (up 17.7% YoY) for Q2 FY2024, with a net profit of $92.0M (up 122.6% YoY) (1.6% margin). Cost of goods sold was $3.8B, operating expenses totaled $1.4B.
Key Financial Metrics
| Total Revenue | $5.8B |
|---|---|
| Net Profit | $92.0M |
| Gross Margin | 34.3% |
| Operating Margin | 9.7% |
| Report Period | Q2 FY2024 |
Revenue Breakdown
Carnival Q2 FY2024 revenue of $5.8B breaks down across 4 segments, led by North America And Australia at $4.0B (68.9% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| North America And Australia | $4.0B | 68.9% |
| Other | $1.7B | 29.4% |
| Cruise | $63.0M | 1.1% |
| Tour And Other | $37.0M | 0.6% |
Carnival Revenue by Segment — Quarterly Trend
Carnival revenue by segment across the last 4 reported quarters, showing how each business line (such as North America And Australia and Other) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Other | $2.2B | $2.5B | — | $1.9B |
| Cruise | $90.0M | $74.0M | — | $72.0M |
| Tour And Other | $29.0M | $179.0M | — | $2.0M |
Carnival Annual Revenue by Year
Carnival annual revenue history includes year-by-year totals (for example, 2025 revenue was $26.6B).
| Year | Annual Revenue |
|---|---|
| 2025 | $26.6B |
| 2024 | $25.0B |
| 2023 | $21.6B |
| 2022 | $12.2B |
Carnival Quarterly Revenue & Net Profit History
Carnival results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $6.3B | +6.6% | $421.0M | 6.6% |
| Q3 FY2025 | $8.2B | +3.3% | $1.9B | 22.7% |
| Q2 FY2025 | $6.3B | +9.5% | $565.0M | 8.9% |
| Q1 FY2025 | $5.8B | +7.5% | $-78.0M | -1.3% |
| Q4 FY2024 | $5.9B | +10.0% | $303.0M | 5.1% |
| Q3 FY2024 | $7.9B | +15.2% | $1.7B | 22.0% |
| Q2 FY2024 | $5.8B | +17.7% | $92.0M | 1.6% |
| Q1 FY2024 | $5.4B | +22.0% | $-214.0M | -4.0% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.41B | $5.78B | $7.90B | $5.94B | $5.81B | $6.33B | $8.15B | $6.33B |
| YoY Growth | 22.0% | 17.7% | 15.2% | 10.0% | 7.5% | 9.5% | 3.3% | 6.6% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $49.76B | $49.60B | $49.80B | $49.06B | $48.53B | $51.16B | $50.83B | $51.69B |
| Liabilities | $43.08B | $42.79B | $41.21B | $39.81B | $39.35B | $41.16B | $38.90B | $39.40B |
| Equity | $6.68B | $6.81B | $8.60B | $9.25B | $9.18B | $10.01B | $11.93B | $12.28B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $1.77B | $2.04B | $1.21B | $911.0M | $925.0M | $2.39B | $1.38B | $1.52B |