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Why Carnival Shares Plunged 8.6% Today

TheMotleyFool

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Shares of Carnival (NYSE: CCL) fell as much as 9.3% in trading Thursday after the cruise-ship operator reported third-quarter results and a lowered full-year outlook. Shares ended the day down 8.6% and are now down 22.3% in the last six months.

Fiscal third-quarter revenue jumped 12% to $6.53 billion, and earnings adjusted for one-time items were $1.8 billion, or $2.63 per share. Analysts were only expecting revenue of $6.17 billion and earnings of $2.53, so the quarter easily topped expectations.

Image source: Getty Images.

Source Fool.com

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