Ford posts better than expected results in 1Q

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Ford earnings fell in the first quarter, but the automaker’s shares rallied in extended trading since Ford said a restructuring is starting to take hold.

Net earnings for the first 3 months of the year fell 34% to $1.15 billion, also weighed down with charges totaling almost $600 million. Adjusted profit totaled 44 cents per share. Revenue dropped to $40.34 billion.

While its operations swung to a profit, the Dearborn, Michigan-based automaker said Thursday its market share in North America increased.

Ford Credit declared its best quarterly result since 2010, driven by lease residual values and credit loss performance.

In after-hours trading, Ford stocks jumped 6.8 percent.

 


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