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June 20, 2019, 1:08 p.m. EDT

Carnival's stock tumble follows 6th-straight earnings report that disappointed investors

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By Tomi Kilgore

The selloff in Carnival Corp.'s stock /zigman2/quotes/202325446/composite CCL -1.06% following the cruise operators latest earnings report shouldn't surprise investors, as it is the sixth-straight quarter that results disappointed. Although earnings per share and sales have beat expectations the past six quarters, the stock has still declined after each of the reports, by an average of 6.9%, including Thursday's 9.3% drop. The stock is now on track to close at the lowest level since Jan. 3, 2019, after Carnival beat earnings and revenue expectations but cut its full-year profit outlook. The stock has now shed 24% over the past year, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.34% has gained 6.3%.

/zigman2/quotes/202325446/composite
US : U.S.: NYSE
$ 46.45
-0.50 -1.06%
Volume: 4.39M
July 16, 2019 4:01p
P/E Ratio
10.60
Dividend Yield
4.31%
Market Cap
$34.05 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
3,004.04
-10.26 -0.34%
Volume: 1.74B
July 16, 2019 5:04p
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