Crude Oil Rises; Carnival Shares Drop After Q2 Results
Portfolio Pulse from Lisa Levin
Carnival Corporation (NYSE:CCL) shares dropped over 9% after reporting Q2 revenue of $4.91 billion, beating the consensus estimate of $4.77 billion, and an adjusted loss of 31 cents per share, beating estimates for a loss of 34 cents per share. Crude oil prices rose, and U.S. stocks traded lower with the Nasdaq dropping around 80 points.
June 26, 2023 | 4:09 pm
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Carnival Corporation shares dropped over 9% after reporting better-than-expected Q2 results, with revenue of $4.91 billion and an adjusted loss of 31 cents per share.
Carnival Corporation's better-than-expected Q2 results led to a drop in its share price, as investors may have been expecting a stronger recovery. The company's revenue beat estimates, but it still reported an adjusted loss, indicating that it is not yet fully recovered from the pandemic's impact on the cruise industry.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100