Norwegian Cruise Line Holdings (NCLH) shares surged 5.98% in pre-market trading on Thursday, following the release of its second-quarter 2025 financial results. Despite mixed performance in Q2, investors appear to be focusing on the company's optimistic outlook for the remainder of the year.

The cruise operator reported Q2 adjusted earnings per share of $0.51, meeting analyst expectations and showing a 27.5% increase from the same period last year. However, revenue came in at $2.517 billion, slightly missing the estimated $2.554 billion but still representing a 6.13% year-over-year growth. The company's net income for the quarter was $29.992 million, significantly below the IBES estimate of $258.2 million.

What seems to be driving the stock's pre-market rally is Norwegian Cruise Line's robust outlook. The company projects Q3 adjusted EBITDA of $1.015 billion and full-year adjusted EBITDA of $2.720 billion. Additionally, Norwegian Cruise Line expects Q3 adjusted EPS of $1.14 and full-year adjusted EPS of $2.05. These forward-looking projections suggest strong confidence in the company's performance for the remainder of 2025, which appears to have overshadowed the mixed Q2 results in investors' minds.