Carnival: Fiscal Q3 Earnings Snapshot

September 30, 2022 GMT

MIAMI (AP) _ Carnival Corp. (CCL) on Friday reported a loss of $770 million in its fiscal third quarter.

On a per-share basis, the Miami-based company said it had a loss of 65 cents. Losses, adjusted for non-recurring costs, came to 58 cents per share.

The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.

The cruise operator posted revenue of $4.31 billion in the period, which also missed Street forecasts. Six analysts surveyed by Zacks expected $4.95 billion.

Carnival shares have decreased 54% since the beginning of the year, while the S&P’s 500 index has fallen 24%. The stock has fallen 64% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CCL at https://www.zacks.com/ap/CCL