Wall Street

Carnival misses quarterly revenue estimate on inflation hit

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Reuters UK

(Reuters) -Carnival Corp on Friday missed Wall Street estimates for quarterly revenue due to weakening cruise demand as decades-high inflation start to hit consumer spending. After a long pandemic-led interruption, cruise operators had seen demand bounce back recently but sky-high prices of essentials like food and gas have made consumers mindful of their spending as fears of a recession looms in the United States. The cruise operator’s revenue rose to $2.40 billion in the second quarter from $50 million a year earlier, missing analysts’ average estimate of $2.77 billion, according to IBES dat…

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