Carnival Corporation has reported net income of $203.3 million, or $0.33 per share, on revenues of $796.1 million for its second quarter ended May 31, 1999, compared to net income of $160.6 million, or $0.27 per share, on revenues of $661.4 million for the same period last year.

According to Carnival, earnings were driven by a 6.6 percent increase in capacity, higher net revenue yields and improved operating margins.

Carnival also reported 541,000 passengers and 3.5 million passenger cruise days for a load factor of 99.9 percent during its second quarter of this year, compared to 497,000 passengers, 3.1 million passenger cruise days, and a load factor of 105.4 percent last year.

For the six-month period, Carnival reported net income of $361.1 million, or $0.59 per share, on revenues of $1.5 billion for 1999, compared to net income of $270.5 million, or $0.45 per share, on revenues of $1.2 billion last year.

Looking forward, Micky Arison, chairman and CEO, indicated that the outlook for the rest of year was positive. He said that bookings remain very strong for the rest of the year and that Mediterranean business was picking up after the cessation of the Balkan conflict.