Ford posts 1Q profit, results miss Street expectations

DEARBORN, Mich. (AP) _ Ford Motor Co. (F) on Tuesday reported first-quarter profit of $924 million.

The Dearborn, Michigan-based company said it had net income of 23 cents per share.

The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The automaker posted revenue of $33.9 billion in the period, also falling short of Street forecasts. Seven analysts surveyed by Zacks expected $34.2 billion.

Ford shares have increased roughly 3 per cent since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 2 per cent. The stock has increased nearly 1 per cent in the last 12 months.


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Keywords: Ford, Earnings Report, Priority Earnings