Carnival loses $4.4 billion as coronavirus slams cruise industry

Carnival posted a $4.4 billion loss — which works out to $3.30 per share — for the second quarter. Analysts were forecasting a loss of $1.76 a share. Revenue plummeted 85% to $700 million, missing estimates of about $738 million.The company is unable to provide any guidance because it is"unable to definitively predict when it will return to normal operations," it added in its earnings release.

What it was like on the last major cruise ship at sea 01:46Carnival stressed in the earnings release that it has ample liquidity of about $7.6 billion to ride out an extended pause in operations. But it also said it expects to burn through about $650 million in cash a month, on average, during the second half of 2020.That's raised concerns about funding. Carnival and other cruise companies were shut out of the first $2 trillion coronavirus stimulus package that passed in Congress in March.

Boo Hoo. Who cares?

So sad! I’ve traveled to Carnival Cruise several times. It has awesome service and food.

Poggers

Luckly for me, The Titanic placed the fear in me so I'm not interested in cruising...

Few things are more wasteful and unnecessary than the cruise ship industry. Shut it down and convert the ships into mobile hospitals and artificial reefs.

Is there any branch that is not affected by the virus?

So bad

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