Carnival: Fiscal Q1 Earnings Snapshot
MIAMI (AP) — MIAMI (AP) — Carnival Corp. (CCL) on Monday reported a loss of $693 million in its fiscal first quarter.
The Miami-based company said it had a loss of 55 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 62 cents per share.
The cruise operator posted revenue of $4.43 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $4.35 billion.
Carnival shares have increased 15% since the beginning of the year, while the S&P’s 500 index has climbed slightly more than 3%. The stock has dropped 50% in the last 12 months.
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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