NEW YORK (TheStreet) -- Shares of Carnival (CCL) - Get Report are climbing 4.26% to $45.50 on Tuesday morning after the company reported better-than-expected earnings and revenue for the 2016 second quarter.

Before today's opening bell, the Miami-based cruise operator posted adjusted earnings of 49 cents per diluted share, surpassing analysts' expectations for earnings of 39 cents per share.

Revenue for the quarter was $3.71 billion, above Wall Street's estimates of $3.68 billion.

Additionally, the company announced a $1 billion share repurchase program.

"Our ongoing effort to drive demand for our brands in excess of our measured capacity growth has led to increased revenues and helped maintain the mid-point of our full year earnings guidance despite the recent currency movements and rises in fuel prices," CEO Arnold Donald said in a statement.

For the third quarter, Carnival sees adjusted earnings per share between $1.83 and $1.87. Analysts are modeling earnings of $1.98 per share.

In fiscal 2016, the company forecasts adjusted earnings per share in the range of $3.25 to $3.35, while analysts are looking for earnings of $3.39 per share.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B+ on the stock.

The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, reasonable valuation levels and expanding profit margins. 

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: CCL

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