Norwegian Cruise Line Holdings reported first-quarter 2025 earnings with total revenue of $2.1 billion, falling short of the expected $2.14 billion. The company posted a GAAP net loss of $40.3 million, resulting in a loss per share of $0.09. Adjusted EBITDA reached $453 million, exceeding guidance, while adjusted earnings per share were $0.07, slightly below the anticipated $0.08. Despite missing revenue and adjusted EPS estimates, the CEO stated that the company delivered solid results to start 2025 and affirmed its full-year 2025 guidance for adjusted EBITDA and adjusted EPS. Following the earnings release, Norwegian Cruise Line's stock declined by approximately 8% in after-hours trading.