The world's biggest shipping company posted a shock 25% rise in profits as global demand starts to recover amid the pandemic
the world's largest container shipping company posted an increase in operating profit of 25% to $1.7 billion in Q2 beating it's own expectations, as global trade recovers somewhat from the worst impacts of the coronavirus pandemic.
The company beat its own expectations, as it announced on 17 June it was expecting operating profit of $1.5 billion. Maersk, which is often considered a key indicator of global economic health and demand, now expects earnings to level between $6 billion and $7 billion in 2020.Warren Buffett disciple Joel Greenblatt averaged 50% annual returns over 10 years. He shares an investor's approach to solving some of America's most glaring problems right now — from education and immigration to social security.
But the company's revenues fell 6.5% to $9 billion in the second quarter "mainly driven by a volume decrease of 16% in Ocean and 14% in gateway terminal," Maersk said.
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