Ford Motor on Wednesday evening delivered higher than expected profits in the first quarter, driven by strength in its commercial business. Positive updates to its full-year outlook helped send shares rallying by roughly 2.5% in after-hours trading. Automotive revenue increased 2% year over year, to $38.89 billion, missing analysts' forecasts of $40.1 billion, according to estimates compiled by LSEG. Adjusted earnings-per-share fell 22% to 49 cents, beating EPS estimates of 42 cents.
The new Ford F-150 truck is launched at a celebratory event at the Ford Dearborn Plant on April 11, 2024 in Dearborn, Michigan.on Wednesday evening delivered higher than expected profits in the first quarter, driven by strength in its commercial business. Positive updates to its full-year outlook helped send shares rallying by roughly 2.5% in after-hours trading.