Carnival Stock Surges After Earnings Show Record Revenue
Dow Jones09-29 21:45
Carnival stock jumped Tuesday after the cruise operator reported record revenue in its latest quarter.
Carnival shares rose 13% to $24.96, putting them on track for their largest single-day gain since April, according to Dow Jones Market Data. The S&P 500 was flat in comparison. Royal Caribbean rose 5.7%, Norwegian Cruise Line advanced 4.1%, and Viking Holdings shares were unchanged Tuesday.
The company reported adjusted earnings of $1.43 a share for the quarter ended Aug. 31, surpassing Wall Street's estimates of $1.35. Revenue hit a record $8.4 billion, Carnival said, beating consensus analyst projections of $8.3 billion.
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