Ford posts $1.76B 1Q profit largely on gas-powered vehicles
Ford Motor Co. made $1.76 billion last quarter, swinging into the black from a $3.1 billion net loss for the same period a year ago
By TOM KRISHER
Published - May 02, 2023, 04:36 PM ET
Last Updated - Jun 21, 2023, 11:46 PM EDT
DETROIT (AP) — Ford Motor Co. made $1.76 billion last quarter, swinging into the black from a $3.1 billion net loss for the same period a year ago.
Excluding one-time items, Ford made 44 cents per share. That beat Wall Street estimates of 42 cents, according to FactSet.
Revenue rose 20% to $41.74 billion, soundly beating the $39.25 billion that analysts expected.
Ford reaffirmed its earlier pretax profit guidance for the full year of $9 billion to $11 billion.
