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Cruises

Carnival's Profit Plummets After Trump Cuba Ban

Rosie Spinks
Carnival Spirit

Photo Credit: The Carnival Spirit sits in port in Sydney. Flickr / Ed Dunens

Skift Take

After a whopping 20 percent drop in second quarter earnings, Carnival is facing the realization that while itineraries to Cuba might have warranted higher-priced tickets, the political volatility of the Trump administration means they were not a safe bet.

Carnival Corporation reported its second-quarter earnings on Thursday, citing a 19.6 percent drop in income during the period and a reduced outlook owed in part to the Trump administration's Cuba cruise ban as well as economic uncertainty in Europe. Profits in the second quarter were $451 million, down from $561 million in the same period last year. The company also lowered its earnings guidance for the year from $4.35 to $4.55 per share to $4.25 to $4.35. Carnival sha

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