Carnival shares cruise higher on gains in revenue, bookings

MIAMI (AP) — Shares of Carnival Corp. have surged after it reported higher revenue, occupancy levels on its cruise ships, and bookings for future trips. But the cruise line operator is still losing money. Carnival said Friday that it lost $1.83 billion in the second quarter and expects another loss in the third quarter because of effects from the pandemic and higher fuel prices. Carnival operates nine cruise brands. It says 91% of its fleet is sailing again. Bookings in the second quarter nearly doubled from the first quarter, and they were the strongest since the beginning of the pandemic.