Ford's first-quarter earnings beat Wall Street estimates even as the industry grapples with falling sales while investing billions of dollars in new technology to develop autonomous and electric vehicles.Here's how the company did compared with what Wall Street expected, based on average estimates compiled by Refinitiv:
"In North America, share and revenue both improved year over year, driven by the performance of franchise strengths in trucks and utilities," the company said. Ford shares are up more than 23% year to date; however, they are down about 15% over the past 12 months. Outside North America, the company had an operating loss of $196 million, which was an improvement of $632 million from the prior quarter.
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