Why Carnival Stock Investors Cheered on Monday

A funny thing happened after Carnival (NYSE: CCL) (NYSE: CUK) reported earnings this morning -- and I mean funny strange, not actually funny.

With the cruise company heading into its still-pandemic-plagued fiscal fourth quarter 2021, analysts had forecast that it would lose $1.28 per share despite taking in $1.34 billion in revenue -- but it seems Carnival managed to miss on both the top and bottom lines. Revenue for the quarter was only $1.29 billion, and the company reported a generally accepted accounting principles loss of $2.31 per share.    

Now you might expect that news to torpedo the stock, sending it to a watery grave. But instead, Carnival stock is up -- 2% as of 1:05 p.m. ET.

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Source Fool.com