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.

The cruising behemoth is expected to report earnings of $0.24 per share based on consensus estimates, which is an increase from $0.11 in the same quarter last year.