Reported 12 months ago
Shares of Carnival Corp. (NYSE: CCL) surged 17.7% this week following positive earnings results, with revenue increasing by 17.7% to $5.78 billion and earnings per share rising from a loss of $0.31 to $0.11. The company's 2024 net yields are expected to rise by 10.25% and adjusted net income guidance has been increased by $275 million to $1.55 billion. Despite the positive news, Carnival still faces challenges with its $29.4 billion debt. Customer deposits have increased significantly to $8.3 billion, but with only $1.6 billion in cash, using deposits to pay down debt poses potential risks in case of economic downturns or booking declines.
Source: YAHOO