MIAMI (AP) — Shares of Carnival cruise have tumbled, with the company reporting lower quarterly profit and cutting its full-year earnings forecast partly because of the Trump administration’s decision to ban cruises between the U.S. and Cuba.
Carnival Corp. said Thursday that it earned $451 million in its fiscal second quarter, which ended May 31. That’s down from $561 million a year earlier.
The results, however, were better than analysts had expected.
Carnival’s shares fell $4.04, or 7.7%, to close at $48.80. They were down more than 10% earlier in the day before making a partial recovery.
