Carnival Corporation has reported a drop in full-year profit, to $1.2bn, down from $1.5bn last year.
Revenues were up, at $15.5bn, in the 12 months to November 30 2013, compared with $15.4bn a year ago.
The company said overall advance bookings are slower than this time last year, while prices have remained the same.
However, the past three months has seen booking volumes for the period January-September 2014 "well ahead", although prices are lower.
Fourth quarter net profits were down to $35m from $111m a year earlier, based on revenues up from $3.6bn to $3.7bn.
Carnival Corporation & plc president and chief executive officer Arnold Donald Donald, said: "We are catching up on booking volumes and gaining momentum as we enter 2014.
"We believe the compelling value we have in the marketplace will continue to stimulate strong demand leading to a solid wave period. We continue to expect revenue yields to turn positive in the second half of 2014 compared to the prior year."
