Carnival Corp. reported fiscal second-quarter results that beat expectations and provided an upbeat outlook, but the cruise operator’s shares dropped 8.6% in...
Carnival Corp. CCL reported fiscal second-quarter results that beat expectations and provided an upbeat outlook, but the cruise operator’s shares dropped 8.6% in morning trading Monday after being headed for the biggest monthly gain in more than two years. Net losses for the quarter to May 31 narrowed to $407 million, or 32 cents a share, from $1.83 billion, or $1.61 a share, in the year-ago period.
61 a share, in the year-ago period. Excluding nonrecurring items, the adjusted per-share loss of 31 cents beat the FactSet loss consensus of 34 cents. Revenue rocketed 104.5% to a record $4.91 billion, above the FactSet consensus of $4.79 billion, as passenger ticket revenue soared 144.4% to $3.14 billion and onboard and other revenue increased 58.6% to $1.77 billion. Occupancy improved to 98% from 69%.
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