Ford shares jumped 3.8% after the automaker reported mixed second-quarter results where a significant beat on profit expectations overshadowed a revenue shortfall. The company posted an adjusted profit of $0.42 per share, surpassing analyst estimates of $0.35, and adjusted operating income of $2.5 billion, well ahead of the $2.10 billion consensus. However, revenue of $48.3 billion fell 3.8% year-over-year and missed the anticipated $49.6 billion. The report also highlighted a sharp drop in free cash flow margin. Shares later cooled to $15.41, up 3% from the previous close.
Ford Motor CompanyFord beat profit expectations and operating income estimates, driving shares up despite a revenue miss.