Investing.com -- Royal Caribbean Group (NYSE: RCL) reported first-quarter earnings on Thursday, topping consensus expectations.

Adjusted earnings per share came in at $3.60, beating analyst estimates of $3.22, as the cruise operator benefited from strong demand following a record WAVE season. Revenue rose 11% YoY to $4.5 billion, slightly above the consensus estimate of $4.46 billion.

The company sees full-year adjusted EPS guidance in a range of $17.10 to $17.50, with the midpoint of $17.30. The outlook reflects $0.62 per share in higher-than-anticipated fuel costs based on current prices, as well as impacts to Middle Eastern itineraries from geopolitical events. The guidance also incorporates benefits from lower non-fuel costs and recent share repurchases totaling $836 million during the quarter. Shares jumped 5.1% following the results.

"Our strong first quarter results and record WAVE season demonstrate the exceptional appeal and compelling value proposition of our trusted brands, industry-leading ships, and destinations," said Jason Liberty, Chairman and CEO.

The company noted that bookings moderated in March and early April for Mediterranean and West Coast of Mexico itineraries due to geopolitical developments but have since recovered and are running at a higher pace than the same time last year. Net yields increased 3.6% as-reported and 2.0% in constant currency, exceeding guidance due to higher pricing driven by strong close-in demand and onboard revenue.

For the second quarter, Royal Caribbean expects adjusted EPS in the range of $3.83 to $3.93. Net yields are projected to increase approximately 0.9% as-reported and approximately 0.2% in constant currency, reflecting higher exposure to itineraries affected by recent global events.

The company delivered vacations to 2.5 million guests during the quarter, a 12% increase YoY, with load factor at 109%.