Carnival beats in earning estimates, stock slides: CEO discusses demand, debt, and fuel costs

Shares of Carnival (CCL) closed lower on Friday despite reporting record third-quarter revenues of $6.9 billion. Carnival CEO Josh Weinstein joins Yahoo Finance Executive Editor Brian Sozzi to break down why the company isn't concerned with the stock price and has a positive outlook going forward. Weinstein boasted the company's strong occupancy with bookings at higher prices. "Cruising is inherently an unprecedented value compared to land-based alternatives," Weinstein said, pointing out why consumers are willing to spend money on a cruise vacation despite recent economic headwinds. But travelers aren't just booking vacations. They are spending more when they get on board too. "As we look out over the next 12 months, the onboard spend levels haven't slowed down, the absolute amount that folks are paying for when they're on board for experiences...hasn't slowed down," Weinstein said. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
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