Cruise stocks are getting a boost on Friday as investors react to a recent earnings report from Carnival (NYSE:CCL).
Carnival released its earnings report for the second quarter of 2022 on Friday. In that report, the company posted a revenue of $2.4 billion. That ended up missing Wall Street’s estimate of $2.61 billion for the period.
Even so, that $2.4 billion in revenue is a 50% increase when compared to revenue from the first quarter of 2022. That major increase in sequential revenue has investors hoping that summer travel is set to recover from Covid-19 pandemic lockdowns last year.
And it’s not just CCL stock that is benefitting from this thought process. Other cruise stocks are also rising today alongside Carnival’s most recent earnings report. Let’s get into that below!
Cruise Stocks Heading Higher on Friday
- Let’s start with Carnival, which is seeing an 11.1% increase as of Friday afternoon.
- Next up we have Royal Caribbean Cruises (NYSE:RCL) and its 15.1% gain as of this writing.
- Norwegian Cruise Line (NYSE:NCLH) is the final cruise stock we’re checking in on today and it shares are increasing 14.1% as of Friday afternoon.
It’s also worth mentioning that all of these cruise stocks are seeing heavy trading today. This is likely due to investors buying the discounted shares in hopes of recovery during the summer months.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.