Ford Motor Earnings: Accelerates Past Analyst Estimates
Ford Motor Co. (NYSE:F) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Despite exceeding analyst expectations, the net income drop has shares are down 2.03%.
Ford Motor Co. Earnings Cheat Sheet
Results: Net income decreased -88.25% to $1.6 billion (31 cents per diluted share) in the quarter versus a net gain of $13.62 billion in the year-earlier quarter.
Revenue: Rose 5.56% to $36.5 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Ford Motor Co. reported adjusted net income of 31 cents per share. By that measure, the company beat the mean analyst estimate of $0.25. It beat the average revenue estimate of $32.94 billion.
Quoting Management: “Our 2012 results were solid, and we expect another strong performance in 2013,” Ford Credit Chairman and CEO Bernard Silverstone said…