Carnival’s stock was surging to pace the S&P 500’s gainers, as strong last-minute bookings helped fuel an earnings beat and raised the cruise line’s outlook.

Carnival stock jumped about 9% on Tuesday after investors welcomed the cruise operator’s earnings and a sharp drop in oil prices. The company also hiked its full-year profit guidance. It now expects earnings of $1.

Carnival shares surged after strong Q2 results and a higher full-year forecast. Rising cruise demand and easing oil prices lifted sector outlook