Carnival Corp Reports Narrower Q1 Loss with Revenue Up by Double Digits
Wednesday, 27 March 2024, 14:54
Carnival Corp Q1 Earnings Overview
Carnival Corporation & plc. (NYSE: CCL) reported a double-digit growth in revenues for the first quarter of 2024. The cruise line operator's net loss narrowed sharply. Revenues increased by double digits to $5.41 billion in the February quarter, reflecting strong growth in both operating segments. Occupancy increased sharply to 102%.
Financial Performance
- Net Loss: The Q1 net loss narrowed to $214 million or $0.17 per share from $693 million or $0.55 per share in 2023.
- Revenue Surge: Revenues increased significantly, driven by the impressive performance in operating segments.
CEO Statement: Josh Weinstein expressed optimism, highlighting a fantastic start to the year with strong quarter results that surpassed expectations.
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