Bloomberg News

Shares of cruise line company Carnival (CCL - Get Report)  fell more than 6% Tuesday after the company cut its 2019 profit forecast. 

The Miami-based company said that it now expects to earn between $4.35 and $4.55 per share in fiscal 2019, down from its previous estimate of between $4.50 and $4.80 per share, due to higher fuel costs and the impact of a strong dollar. 

For the first quarter, Carnival reported revenue of $4.67 billion, and earnings of 49 cents per share. Those totals were ahead of the $4.31 billion in revenue and earnings of 45 cents per share Wall Street was expecting for the period. 

"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," CEO Arnold Donald said. "For the full year, our earnings guidance now reflects $155 million, or 22 cents per share, from fuel price and currency moving against us. We expect adjusted earnings per share to be higher than the prior year, despite a $45 million, or 6 cents per share, year over year drag from currency and the price of fuel."

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