During the third quarter, cruise line operator Carnival narrowed its net loss to $770 million from more than $2.8 billion. Revenue sailed to $4.305 billion.from $546 million.
sank Friday as Carnival Corporation missed Wall Street earnings expectations for its fiscal third quarter of 2022.
It anticipates that eight of its nine brands will have their entire fleet serving guests by the end of the fourth quarter of 2022. Carnival also cited higher fuel costs which increased to $668 million in 2022 from $182 million in 2021. This increase was caused by higher fuel consumption due to the resumption of guest cruise operations, and an increase in fuel prices of $421 per metric ton consumed in 2022 compared to 2021. The blended spot price for fuel is currently $675 per metric ton.
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