Carnival Beat Earnings Estimates in Record Quarter. Why the Stock Isn’t Soaring.

Carnival turned in higher earnings and revenue than expected in the third quarter as a result of strong demand in North America and Europe, but forecast a larger loss than anticipated for the final three months of its fiscal year.

Analysts were expecting earnings per share of 75 cents on revenue of $6.7 billion, according to FactSet data. The stock wavered in early trading but was 2% up shortly after the open. However, Carnival’s fourth-quarter guidance may be a concern for some investors. The company said it expects a loss of between 10 cents and 18 cents per share, a greater loss than the 11 cents per share expected by analysts.

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