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LOS ANGELES - On Tuesday, Viking Holdings Ltd (NYSE:VIK) reported second quarter earnings that exceeded analyst expectations, with adjusted earnings per share of $0.99, beating the consensus estimate of $0.79. Revenue for the quarter reached $1.88 billion, an 18.5% increase compared to the same period last year.
Viking’s stock edged up 0.50% following the earnings release, reflecting investor satisfaction with the results.
The cruise operator’s strong performance was driven by increased capacity, higher occupancy rates, and improved revenue per passenger cruise day. Net yield rose to $607, representing an 8% increase YoY. The company’s adjusted EBITDA jumped 28.5% to $632.9 million compared to the second quarter of 2024.
"We delivered another quarter of great results, further underscoring the strength of our business model and of our core guest demographic," said Torstein Hagen, Chairman and CEO of Viking. "In the second quarter, our revenue increased 18.5% and our Adjusted EBITDA increased 28.5% year-over-year, reflecting continued solid demand for our destination-focused travel experiences."
The company reported that capacity passenger cruise days increased by 8.8% compared to the same period in 2024, primarily due to fleet expansion that included three additional river vessels, one ocean ship, and the Viking Yi Dun accommodation agreement. Occupancy for the quarter stood at 95.6%.
Looking ahead, Viking reported strong advance bookings, with 96% of its capacity for the 2025 season already sold and 55% booked for the 2026 season. Advance bookings for 2025 are 21% higher than the 2024 season at the same point in time, while 2026 advance bookings are 13% higher than 2025 at the comparable point.
The company maintains a solid financial position with $2.6 billion in cash and cash equivalents and an undrawn revolver facility of $375 million as of June 30, 2025.
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