Shipping giant Maersk’s shares jump 10% on profit beat despite trade uncertainty

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Shipping giant Maersk’s shares jump 10% on profit beat despite trade uncertainty

Maersk shares jumped more than 10% after the shipping giant posted better-than-expected

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on Thursday, putting shares on course for their best daily performance since 2016.

Earnings before interest, depreciation, taxes and amortization (EBITDA) rose 26% to $12.13 billion in the full-year stretch and came in at $3.6 billion in the fourth quarter, exceeding the $3 billion analyst forecast for the three-month ******* cited by Reuters.

“We saw growth across all three of our segments. We saw also a pretty strong price environment on the back of that growth and some shortages of capacity, so global trade continuing to be strong allowed us to deliver a very strong quarter,” Maersk CEO Vincent Clerc told CNBC’s “Squawk Box Europe” on Thursday.

“At a time of very high macroeconomic uncertainties, we were able to be sufficiently agile.”

This is a breaking news story and will be updated shortly.

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