UPDATE 1-Cruise operator Carnival forecasts 3rd-qtr profit below estimates
* Forecasts $1.38-$1.44/share for Q3 vs est $1.51
* Raises full-year profit forecast to $1.60 to $1.75/share
* Shares fall about 2 pct (Adds details, share movement)
June 24 (Reuters) - Carnival Corp, the world's largest cruise operator, forecast a weaker-than-expected adjusted profit for the third quarter, citing increased competition in the Caribbean and higher costs, sending its shares down 2 percent in early trading.
The company, which operates the Carnival, Holland America and Costa cruise lines, forecast an adjusted profit of $1.38-$1.44 per share for the current quarter, when the company earns a lion's share of its earnings due to peaking demand in the summer.
Analysts on average were expecting $1.51 per share, according to Thomson Reuters I/B/E/S.
The company, however, raised its full-year adjusted profit forecast to $1.60 to $1.75 per share from $1.50-$1.70.
Carnival said it expects third-quarter net revenue yields, which blend ticket sales and money spent onboard, to be flat to down 1 percent on a constant currency basis due to "significant industry capacity increase in the Caribbean."
About 35 percent of the company's passenger capacity was in the Caribbean in the year ended November. Continuación...