Carnival misses revenue estimates, Omicron hits bookings

Reuters2021-12-20

Dec 20 (Reuters) - Carnival Corp missed analysts' estimates for quarterly revenue on Monday, as people avoided cruises due to higher chances of COVID-19 infections in crowded and enclosed spaces.

The new COVID-19 variant, Omicron, has been a cause of concern globally over the last month, as people cautious of the fast-spreading variant are reassessing their travel decisions.

"Over the last few weeks, we have experienced an initial impact on bookings related to near-term sailings as a result of the Omicron variant," Carnival said in a statement on Monday.

The cruise operator's revenue rose to $1.29 billion in the fourth quarter from $34 million a year earlier. Analysts had expected $1.41 billion, according to IBES data from Refinitiv.

Carnival shares rose more than 2% in early trading.

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