NEW YORK (TheStreet) -- Shares of Carnival Corp. (CCL) are lower by -1.70% to $38.74 in early trading on Tuesday morning despite reporting an increase in non-GAAP net income to $80 million, or 10 cents per diluted share for the 2014 second quarter, compared to non-GAAP net income of $57 million, or 7 cents per diluted share for the year ago quarter.
The cruise company pasted a GAAP net income of $106 million, or 14 cents per diluted share versus $41 million, or 5 cents per diluted share for the 2013 second quarter.
Carnival's 2014 second quarter revenue was $3.6 billion versus $3.5 billion from the prior year.
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Separately, TheStreet Ratings team rates CARNIVAL CORP/PLC (USA) as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate CARNIVAL CORP/PLC (USA) (CCL) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, good cash flow from operations and increase in stock price during the past year. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins."