Carnival Corp. (NYSE:CCL) stock fell Tuesday after the cruise operator reported second-quarter results that topped earnings expectations but missed on revenue. The company also issued third-quarter guidance below Wall Street estimates, offsetting a slight increase to its full-year profit outlook.
Second-Quarter Earnings Beat, Revenue Misses
Carnival reported second-quarter revenue of $6.663 billion, below analysts’ estimate of $6.692 billion. Adjusted earnings came in at 41 cents per share, topping the consensus estimate of 35 cents. GAAP diluted earnings were 39 cents per share.
Revenue increased 5.3% from $6.328 billion a year earlier. Net income attributable to Carnival declined to $537 million from $565 million. Adjusted net income climbed more than 20% to a record $569 million, while adjusted EBITDA reached a record $1.582 billion.
Demand Remains Strong Despite Europe Headwinds
