Ford Motor Co (NYSE:F) shares are trading lower by 3.97% to $13.20 Friday morning following second-quarter earnings. The stock also received a number of analyst rating updates following the earnings print.
What Happened?
Ford announced its second-quarter revenue of $45.0 billion, reflecting a notable 12% year-over-year increase. This figure exceeded the Street consensus estimate of $40.38 billion. During the same period, the company reported earnings per share of 72 cents, surpassing the analyst consensus consensus estimate of 55 cents per share.
The company said the Ford Model E business is scaling and seeing competitive pricing. Ford reported 34,000 units for the segment in the second quarter, which was up 44% year-over-year. Ford sees its Model E unit having a run-rate of 600,000 units in 2024...Read More
According to data from Benzinga Pro, F has a 52-week high of $16.68 and a 52-week low of $10.90.
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