Exceeding Wall Street expectations, Norwegian Cruise Line shares rose more than 4 percent in early morning trading today, following its Q1 adjusted earnings of $0.27 per share.

On GAAP basis, Norwegian reported a loss of $0.10 per share, compared to earnings of $0.24 per share for the same period last year. Earnings were adjusted for non-recurring costs and amortization costs.

With the inclusion of Prestige Cruise Holdings, gross revenue per passenger day for Q1 of this year was $248.98, up from $215.92 last year. Total expenses per passenger day were $232.96 this year, compared to $192.15 last year. Operating income was $16.02, compared to $23.77 last year.

Non-operating expenses were $21.53 per passenger day this year, up from $10.00 last year.

Net revenue per passenger day was $187.82 this year, up from $162.35 last year, and net costs were $142.27 this year, up from $118.54 last year.

The adjusted EPS guidance for Q2 is in the range from $0.70 to $0.75 and for the full year from $2.75 to 2.80.