Ford Tops Q2 Expectations, Shares Gain
Shares of Ford Motor Company (NYSE: F) rose more than 2 percent in pre-market trading after the company reported stronger-than-expected results for its second quarter.
The Dearborn, Michigan-based company posted a quarterly net profit of $1.89 billion, or $0.47 per share, compared to $1.3 billion, in the year-ago period.
Its revenue declined slightly to $37.3 billion in the quarter. However, analysts were expecting earnings of $0.37 per share on revenue of $35.34 billion.
The average estimate among 100 Estimize users was for earnings of $0.36 per share and revenue of $35.89 billion.
Its pretax profit climbed to $2.9 billion from $2.6 billion.
The company's pretax profit in North America rose to $2.6 billion.
Mark Fields, Ford President and CEO said, "We delivered an outstanding second quarter, a great first half of 2015, and we are confident the second half of the year will be even stronger. The entire Ford team is focused on accelerating our One Ford plan, delivering product excellence and driving innovation in every part of our business."
The company maintained its full-year 2015 operating profit forecast of $8.5 billion to $9.5 billion.
Ford shares rose 2.47 percent to $14.91 in pre-market trading.
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