Why Carnival Stock Was Sinking Today

Shares of Carnival (NYSE: CCL), the world's biggest cruise line operator, were tumbling today after the company badly missed estimates in its third-quarter earnings report. Carnival continued to rebound from the pandemic in the third quarter, but its results fell short of expectations and it reported a significant loss. Revenue jumped nearly 80% sequentially from the second quarter to $4.31 billion, but that still missed analysts' consensus estimate of $5.07 billion.