Carnival Corp, the cruise operator, raised its profit forecast for 2018 on Friday. The company benefited from increased ticket prices, strong advance bookings, and strong customer spending on board.

Although cruise ticket prices are on the rise, Americans are still willing to book early for their vacations, especially during "wave season" which began in January. They also spend a lot during their trips.

Carnival was able to reduce the cost of operation, such as fuel, dock fees and promotional costs.

Carnival CEO Josh Weinstein said in a press release that "while we are not immune to the increased macroeconomic and geographic volatility since we provided our December guidance, our earnings expectations for this year are still being raised."

The company is expecting adjusted earnings per share in fiscal 2025 of approximately $1.83 compared to its previous forecasts of $1.70.

(source: Reuters)