Ford Motor Company F shares are moving higher after reporting a first-quarter earnings beat.
Adjusted earnings came in at 44 cents per share, beating estimates by 18 cents. Total sales came in at $40.3 billion, while automotive sales of $37.24 billion beat estimates of $37.08 billion.
"We feel very encouraged by the strong start to the year," said Ford CFO Bob Shanks. "If you do the right things, you make the tough calls, you allocate capital the right way, you be mindful of your costs, you think about your customers... you get it right, it does take time, but goodness comes from that. I do think that we're starting to see signs of that."
Highlights
- Profits were down 34 percent
- Revenues down 4 percent
Ford's stock closed Thursday at $9.40 per share. The stock was higher by more than 7 percent to $10.008 per share in after-hours trading.
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