Carnival Posts Q2 Results

Carnival Mardi Gras

Carnival Corporation reported a loss of $4.4 billion, or $6.07 per share, on revenues of $740 million for its second quarter ended May 31, 2020, compared to net income of $451 million, or $0.65 per share, on revenues of $4.8 billion for its second quarter of last year.

The company’s brands carried 426,000 passengers this year compared to 3.1 million for the same period the year before.

Operating costs for the second quarter were $2.5 billion, compared to $4.2 billion last year.

For the six-month period, Carnival reported a loss of $5.2 billion on revenues of $5.5 billion, compared to net income of $787 million on revenues of $9.5 billion for the same period in 2019.

Outstanding shares numbered 721 million this year over 691 million for last year’s second quarter.

Carnival also listed cash and cash equivalents at $6.9 billion at the end of the quarter versus $518 million last year.

Total assets were listed at $49.8 billion, current liabilities, $11.9 billion, and long-term debt, $14.9 billion.

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