The result was driven by an improved showing at its boxship division Maersk Line where lower bunker prices helped to trim 13% off costs while volumes also rose.
As a result the Danish giant returned adjusted net profit of DKK 6.5bn ($1.17bn), beating the consensus of DKK 5.9bn and a 30% jump on the DKK 5bn booked for the second quarter of 2012.
Revenue dipped to DKK 82.1bn from DKK 87bn a year earlier.
“We are very satisfied with the operational result which is a consequence of strong performances in most businesses,” CEO Nils Andersen said in a statement.
"APM Terminals delivers strong underlying profit and Maersk Drilling continues its solid operational performance.”
Andersen added: “Maersk Oil’s production has bottomed out and stabilised. Maersk Line continues industry leadership on profitability however Q4 has started with low freight rates which are expected to affect the fourth-quarter result."
Maersk Line contributed net earnings of DKK 3.1bn during the period compared to DKK 2.9bn a year earlier and smashing street expectations of DKK 2.6bn.
However the company’s oil segment disappointed with a return of DKK 1.1bn, down from net earnings of DKK 1.5bn in the second leg of 2012 and just short of analyst estimates of DKK 1.6bn.
“Although the unit cost reductions for Maersk Line are partly driven by lower bunker prices, we note that volumes were higher than expected which implies better utilization of the vessels, the key to reduce costs,” RS Platou Markets said in a report.
“On this basis we find Maersk Line to be on track with their cost reduction plans.”
Following the surprise result, AP Moller has upped its full year net profit guidance to $3.5bn from $3.3bn previously and in line with consensus estimates.
The world’s largest boxship owner delivered net earnings of $4bn in 2012.
