NEW YORK (TheStreet) -- Shares of Carnival (CCL - Get Report) were climbing in late-morning trading on Tuesday after the company posted better-than-anticipated results for the 2016 fiscal third quarter.

Before yesterday's market open, the Miami-based cruise company reported adjusted earnings of $1.92 per share, topping analysts' estimates of $1.88 per share.

Revenue for the period was $5.1 billion, above Wall Street's forecasts of $5.06 billion.

"Revenues during the peak summer season were bolstered by strong performances from both our North American and European brands and across all major deployments including the Caribbean, Alaska and Europe," CEO Arnold Donald said in a statement.

Carnival now sees full-year earnings per share between $3.33 and $3.37 vs. its previous view for earnings of $3.25 to $3.35 per share. Analysts are expecting earnings of $3.39 per share for fiscal 2016.

The company is projecting fourth-quarter earnings per share between 55 cents and 59 cents, while analysts are looking for earnings of 58 cents per share.

The cruise ship operator said that advance bookings for the first half of next year are ahead of 2016 bookings at "considerably higher prices."

Carnival has gained from low fuel prices, higher prices and strong bookings in recent quarters, the Wall Street Journal noted.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of A- 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, attractive valuation levels and expanding profit margins.

The team believes its strengths outweigh the fact that the company has had lackluster performance in the stock itself.

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