Norwegian Cruise Line shares fall 8.8% after quarterly loss

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Norwegian Cruise Line shares fall 8.8% after quarterly loss

Norwegian Cruise Line Holdings Ltd.Cruise Line Holdings Ltd. NCLH fell 8.8% in premarket trades Tuesday after it warned it would post a third-quarter loss and fall short of revenue targets. The company said its second quarter loss decreased to $509.3 million, or $1.22 a share, from a loss of $717.8 million, or $1.94 a share, in the year-ago quarter. The latest quarter saw a loss of $1.14 a share. Revenue increased to $1.19 billion from $4.37 million. Wall Street analysts were expecting Norwegian Cruise Line HoldingsCruise Line Holdings to lose 88 cents a share of revenue of $1.26 billion, according to FactSet estimates. The company expects third-quarter revenue to be between $1.5 billion and $1.6 billion, less than Wall Street analyst estimates of $1.88 billion. It expects to report a third-quarter loss. The Russian-Ukraine conflict and current macroeconomic conditions will cause a net loss for the Norwegian Cruise Line, as a result of the COVID 19 epidemic, while the company can't estimate the impact on its business, financial condition or near- or longer-term financial or operational results with certainty, it will report a net loss, according to the Norwegian Cruise Line. The company said in May that it will be the first major cruise operator to complete the relaunch of its entire fleet with all ships in operation. The company said that second-quarter occupancy was 65%, in line with its target.