Carnival reported a quarterly loss of more than $4 billion as the coronavirus pandemic has idled ships
Carnival Corp. reported a quarter loss of more than $4 billion, its largest ever, as the Covid-19 pandemic has idled ships, warning that it could breach a loan agreement in a prolonged sailing pause.
The company posted a preliminary fiscal second-quarter loss of $4.37 billion, or $6.07 a share, compared with a profit of $451 million, or 65 cents a share, in the same period last year. The loss includes $2 billion in noncash impairment charges. Revenue for the quarter was $700 million, down 85.4% from a year earlier.
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