MIAMI (AP) — MIAMI (AP) — Carnival Corp. (CCL) on Friday reported a loss of $78 million in its fiscal first quarter.
On a per-share basis, the Miami-based company said it had a loss of 6 cents. Earnings, adjusted to extinguish debt, came to 13 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The cruise operator posted revenue of $5.81 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $5.74 billion.
For the current quarter ending in May, Carnival expects its per-share earnings to be 22 cents.
The company expects full-year earnings to be $1.83 per share.
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