Carnival Stock Sinks as Discounting Dings Earnings

Carnival Corp.

CCL -20.18%

shares lost more than a fifth of their value Friday as the cruise giant struggled to win over travelers without offering discounts.

Carnival’s loss narrowed and sales rose significantly in the third quarter from last year, when tight Covid-19 restrictions limited cruises, but results fell short of Wall Street expectations.

Costs from everything from food to fuel…

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