Carnival reported better-than-expected fourth-quarter earnings growth and laid out an optimistic outlook for 2016.

The Miami cruise giant reported net income of $270m for the final quarter of its fiscal year, reversing a bottom-line loss of $104m a year earlier.

Revenue remained flat at $3.71bn but the New York-listed company pulled down operating expenses by 7.3% to $3.2bn.

The adjusted earnings per share (EPS) of $0.50