Why ZIM Integrated Shipping Services Stock Soared on Wednesday

Shares of Israel's ZIM Integrated Shipping Services (NYSE: ZIM) stock exploded 9.2% higher as of 11:45 a.m. EDT Wednesday, after the ocean-going container shipper reported estimate-busting sales and earnings for its fiscal first quarter of 2021.

Expected by Wall Street analysts to earn $4.70 per share on sales of $1.6 billion, ZIM instead reported a $5.35-per-share profit on sales of more than $1.7 billion.  

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Source Fool.com