Operating Income
Operating Income
Carnival Corporation Operating Income decreased by 17.4% to $607.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 11.8%, from $543.00M to $607.00M. Over 4 years (FY 2021 to FY 2025), Operating Income shows an upward trend with a -10.8% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
StatementIncome Statement
SectionOperating Income
CategoryProfitability
SignalHigher is better
VolatilityModerate
First reportedQ4 2013
Last reportedQ4 2025
How to read this metric
Growth in operating income suggests that the core business is becoming more profitable and efficient.
Detailed definition
The profit realized from a business's own operations after deducting operating expenses like wages, depreciation, and co...
Peer comparison
This is a key metric for comparing the fundamental business performance of companies with different tax or debt structures.
Metric ID:
operating_incomeHistorical Data
20 periods
| Q1 '21 | Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | -$1.62B | -$2.06B | -$1.89B | -$1.49B | -$1.47B | -$279.00M | -$1.14B | -$172.00M | $120.00M | $1.62B | $384.00M | $276.00M | $560.00M | $2.18B | $560.00M | $543.00M | $934.00M | $2.27B | $735.00M | $607.00M |
| QoQ Change | — | -27.3% | +8.0% | +21.2% | +1.2% | +81.1% | -307.2% | +84.9% | +169.8% | >999% | -76.4% | -28.1% | +102.9% | +288.9% | -74.3% | -3.0% | +72.0% | +143.1% | -67.6% | -17.4% |
| YoY Change | — | — | — | — | +8.8% | +86.4% | +40.0% | +88.5% | +108.1% | +682.1% | +133.8% | +260.5% | +366.7% | +34.1% | +45.8% | +96.7% | +66.8% | +4.3% | +31.3% | +11.8% |
Range-$2.06B – $2.27B
CAGR-18.6%
Avg YoY Growth+129.1%
Median YoY Growth+76.6%
Current Streak2 quarters decline
Business Segments
| Segment | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 |
|---|---|---|---|---|---|---|---|---|
| North America | — | — | — | — | — | $516.00M | $691.00M | $1.52B |
| Europe | $217.00M | $119.00M | $168.00M | $770.00M | $283.00M | $140.00M | $368.00M | $810.00M |
| Cruise Support | -$128.00M | -$95.00M | -$114.00M | -$104.00M | -$101.00M | -$91.00M | -$113.00M | -$125.00M |
| Tour and Other | $1.00M | -$21.00M | -$19.00M | $70.00M | — | -$22.00M | -$12.00M | $71.00M |
| North America And Australia | $294.00M | $272.00M | $525.00M | $1.44B | $392.00M | — | — | — |
| Total | $384.00M | $276.00M | $560.00M | $2.18B | $560.00M | $543.00M | $934.00M | $2.27B |
Operating Income at Other Companies
Frequently Asked Questions
- What is Carnival Corporation's operating income?
- Carnival Corporation (CCL) reported operating income of $607.00M in Q4 2025.
- How has Carnival Corporation's operating income changed year-over-year?
- Carnival Corporation's operating income increased by 11.8% year-over-year, from $543.00M to $607.00M.
- What is the long-term trend for Carnival Corporation's operating income?
- Over 4 years (2021 to 2025), Carnival Corporation's operating income has grown at a -10.8% compound annual growth rate (CAGR), from -$7.09B to $4.48B.
- What does operating income mean?
- The profit earned from core business activities, before accounting for interest and taxes.