Viking Holdings Ltd. reported second-quarter revenue of $1.88 billion, an 18.5% increase from a year earlier, as demand for its destination-focused ocean, river and expedition cruises remained strong. Gross margin expanded 22.3%, while adjusted gross margin rose 19.2%. Net income reached $439.2 million, and adjusted earnings came in at $0.99 a share. The company said 96% of its 2025 cruise capacity is already sold, underscoring resilient booking trends among its higher-end customer base even as other travel operators flag softer demand. Management characterised the outlook as stable given the advance sales pipeline. Despite the solid top-line growth, the stock fell roughly 4% to 5% in pre-market trading, with some investors focusing on an earnings shortfall relative to the most optimistic forecasts and slower momentum in river-cruise metrics.