Carnival Corporation Ltd. stock research
FY2023 Q2
Carnival (CCL) Gross Margin — Quarter Ended May 31, 2023
Revenue increased compared to both the prior quarter and the same quarter last year. Gross profit turned positive from a loss a year ago and rose sequentially, while cost of revenue also increased, resulting in a higher gross margin.
Gross margin takeaway
Quarter ended May 31, 2023 · FY2023 Q2
Revenue increased compared to both the prior quarter and the same quarter last year. Gross profit turned positive from a loss a year ago and rose sequentially, while cost of revenue also increased, resulting in a higher gross margin.
- The strongest observable margin driver was the substantial improvement in gross profit, which moved from a loss to a profit, outpacing the growth in revenue and cost of revenue.
- Compared to the immediately preceding quarter, gross margin was higher. Compared to the same quarter one year earlier, gross margin improved significantly from a negative figure to a positive one.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
29.6%
Gross profit
$1.5B
Revenue
$4.9B
Cost of revenue
$3.5B
Quarter-over-quarter change
+4.3 pts
Year-over-year change
+41.4 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Feb 28, 2023 | $4.4B | $1.1B | $3.3B | 25.3% |
| May 31, 2023 | $4.9B | $1.5B | $3.5B | 29.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Feb 28, 2023
+4.3 pts
Year-over-year change
May 31, 2022
+41.4 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver was the substantial improvement in gross profit, which moved from a loss to a profit, outpacing the growth in revenue and cost of revenue.
Compared to the immediately preceding quarter, gross margin was higher. Compared to the same quarter one year earlier, gross margin improved significantly from a negative figure to a positive one.
Monitor the relationship between revenue growth and cost of revenue growth in upcoming quarters.