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Carnival’s Three-Year Rebound: Stock Up 285% as Record Bookings and Revenue Extend Turnaround

Robust demand plus debt reduction powered the rebound.

Overview

  • Carnival shares have surged 285% since October 2022, turning a $1,000 stake into roughly $3,850.
  • Q3 2025 revenue reached $8.2 billion for the quarter ended Aug. 31, up 89% versus the same quarter three years earlier.
  • The company ended the quarter with record customer deposits, reflecting strong booking trends.
  • Carnival has returned to positive net income following pandemic-era losses.
  • Management reports ongoing refinancing and debt paydowns, while one advisory list from Motley Fool did not include the stock among its latest top picks.