Maersk Posts Upbeat Q3 Profit, Lifts Outlook

A.P. Moller-Maersk A/S

reported upbeat third-quarter earnings and lifted its full-year forecast. Maersk now projects a full-year net profit of about $3.5 billion, versus its earlier forecast of around $3.3 billion. Maersk's quarterly net profit surged to 6.74 billion Danish kroner ($1.2 million), from a year-ago profit of DKK5.58 billion. However, analysts were expecting a profit of DKK6.18 billion. Its EBIT fell 2.6% to DKK12.28 billion, versus estimates of DKK12.49 billion. Maersk's revenue dropped 6% to DKK82.06 billion from DKK87.20 billion. Maersk shares closed at $19.33 yesterday.