Top Cruise Liner Soars Amid Strong Earnings, Durable Booking Demand

For the second time this year, Carnival raised its annual profit forecast. The company now expects adjusted net income of $1.55 billion, marking an increase of $275 million. While revenue growth continued to slow, Carnival stated that sales hit a record in the second quarter. Revenues grew nearly 18% year-over-year and totaled $5.8 billion, edging past the $5.7 billion estimate. Historical research studies suggest that approximately half of a stock's price appreciation is due to its industry grouping. In fa ...