Wednesday, January 27, 2021 5:08 AM EST
By The Associated Press
MIAMI (AP) _ Carnival Corp. (CCL) on Tuesday reported a fiscal fourth-quarter loss of $2.22 billion, after reporting a profit in the same period a year earlier.
The Miami-based company said it had a loss of $2.41 per share. Losses, adjusted for non-recurring costs, came to $2.02 per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of $1.92 per share.
The cruise operator posted revenue of $34 million in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $96.9 million.
For the year, the company reported a loss of $10.24 billion, or $13.20 per share, swinging to a loss in the period. Revenue was reported as $5.6 billion.
Carnival shares have dropped 14% since the beginning of the year, while the Standard & Poor's 500 index has risen 2.5%. The stock has dropped 59% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CCL at https://www.zacks.com/ap/CCL