Carnival Corp, the world's largest cruise operator, reported a better-than-expected quarterly profit on Tuesday, helped by higher ticket prices and on-board spending. The travel company's shares rose as much as 2.3 percent to a record high of $60.24 in early trading.
On-board spending, which makes up about a quarter of Carnival's total revenue, rose 6 percent in the first quarter ended February 28, as the company added more entertainment options such as casinos and IMAX theatres to its cruises.
Net revenue yields, which account for spending per available berth, rose 3.4 percent on a constant currency basis, Carnival said.
Cruise operators and travel companies have benefited as consumers increasingly spend more on travel, fine dining and big ticket items rather than on apparel and accessories.
Carnival, which operates the Costa and Princess Cruise lines, hiked ticket prices last year in response to growing demand for cruises to Alaska and the Caribbean.