UPDATE 2-Carnival raises annual profit forecast on resilient cruise demand

(Adds details in paragraph 7) Sept 29 (Reuters) – Carnival Corp raised its annual forecast for profit, betting on strong demand and higher onboard spending as well as ticket pricing for its cruise vacations. Cruise operators, including Carnival Corp and rival Royal Caribbean Group, have been racing to offer unique and private experiences by expanding their portfolio to meet strong demand for exclusive destinations. Carnival has invested $600 million in Celebration Key, an ambitious private resort destination on Grand Bahama, to help maintain its competitive edge. Bundled packages offering perks such as drinks, Wi-Fi, and excursions have encouraged guests to spend more onboard, further boosting revenue for the cruise lines. The company forecast fiscal 2025 adjusted earnings per share of about $2.14, up from its prior expectations of about $1.97. The cruise operator reported adjusted profit per share of $1.43 for the quarter ended August 31, beating analysts' estimates of $1.32 according to data compiled by LSEG. The company also logged quarterly sales of $8.15 billion, compared with analysts' estimates of $8.10 billion. (Reporting by Neil J Kanatt in Bengaluru; Editing by Krishna Chandra Eluri)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)