Maersk quarterly earnings beat expectations

Maersk posted better than expected fourth quarter results on Friday (January 14).

The Danish shipping giant saw freight rates improve 80% compared with a year before.

That more than offset a fall in ocean-going container volumes, which fell by 4% in the last three months of the year.

Maersk put the results down to the global disruption in supply chains.

Moving freight around is now a more expensive business because of it.

Underlying earnings came to $8 billion.

It was above the company's own guidance in November and outperformed analyst projections.

Revenue hit $18.5 billion - again beating market expectations.

Maersk is due to publish its full financial results on February 9th.

The firm's share price was down more than 2% by early afternoon Friday.

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