Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Ford beats on first-quarter earnings, stock surges

Matthew DeBord,ReutersApr 26, 2019, 01:58 IST

Ford

Ford's revenues and profits declined, but it beat Wall Street estimates.
Once again, a strong pickup and SUV market in the US powered Ford's results.
Ford is in the midst of reorganization under CEO Jim Hackett.

Ford on Thursday posted lower profit for the first quarter but beat analyst estimates as pickup truck sales remained strong in its core US market.

The No. 2 American automaker posted a quarterly net profit of $1.15 billion, or 29 cents per share, down 34 percent from $1.74 billion, or 43 cents per share, a year earlier.

Excluding one-time items, Ford earned 44 cents per share, above analysts' average estimate of 27 cents, according to IBES data from Refinitiv.

In after-hours trading, Ford shares surged over 7%, to $10.

Markets Insider

(Reporting by Nick Carey; Editing by Tom Brown)