Ford Profit Falls but Tops Estimates
Written by: Joe Deaux
Tickers in this article:
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NEW YORK (TheStreet) -- Ford(F) said first-quarter profit fell from a year earlier, but the automaker topped estimates on both the top and bottom lines.
Ford reported earnings of $1.4 billion, or 35 cents a share, on revenue of $32.4 billion, down 2% from a year earlier. Adjusted earnings in the quarter were 39 cents a share.
A year earlier, Ford earned $2.5 billion, or 61 cents a share.
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Analysts polled by Thomson Reuters expected earnings of 35 cents a share on revenue of $31.5 billion.
Looking forward, Ford said it expected to be profitable but at a lower level than 2011.
-- Written by Joe Deaux in New York.
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