Shipping Giant AP Moller-Maersk Reports Stellar Earnings

In a remarkable turn of events, AP Moller-Maersk, the Danish shipping behemoth, witnessed its shares skyrocket by over 10% after announcing its fourth-quarter earnings, which significantly exceeded market expectations.

Financial Highlights

The company disclosed an EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of $3.6 billion for the quarter, a figure that not only highlights its robust financial health but also surpasses the analysts' forecast of $3 billion. Moreover, the full-year EBITDA surged by 26%, reaching an impressive $12.13 billion.

Market Reaction

Following the earnings announcement, Maersk's shares experienced a notable uptick, climbing 9.13% to 11,862 by 11:03 am CET, reflecting the market's positive reception of the company's financial performance.