Carnival Forecasts Possible Quarterly Loss as Bookings Drop
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Carnival Corp., the world’s largest cruise-ship operator, forecast fourth-quarter results that trailed analysts’ estimates amid a decline in advance bookings and higher fuel prices. The shares slumped.
Fourth-quarter results excluding some items will range from a loss of 3 cents a share to profit of 3 cents, the Miami-based company said in a statement. Analysts had forecast profit of 9 cents on average, according to data compiled by Bloomberg.