1 month ago
Stock Market

Ford Q4 Tops Street, Meets Company Guidance

Investing.com - Ford Motor (NYSE:F) reported fourth-quarter results that came in higher than Wall Street estimates Wednesday. But shares were little

Investing.com - Ford Motor (NYSE:F) reported fourth-quarter results that came in higher than Wall Street estimates Wednesday.

But shares were little changed as the results were in line with guidance the automaker provided last week.

Ford reported an adjusted profit of 30 cents per share on auto segment revenue of $38.7 billion.

On average, analysts predicted a profit of 28 cents per share on revenue of $38.1 billion.

The stock was flat in after-hours trading.

The company's pre-tax margin fell to 3.5% from 4.9% percent a year earlier.

In North America, Ford posted a pre-tax profit of $2 billion. In every other region, the automaker posted a loss. The largest loss of $381 million was in Asia, driven by China where the company has seen sales plummet.

On Jan. 15, Ford and Germany's Volkswagen (DE:VOWG_p) said they would join forces on commercial vans and pickups and were exploring joint development of electric and self-driving technology in a bid to save billions of dollars.

Ford previously said it remains committed to its money-losing operations in Europe and South America, and its losses in China would narrow this year.

-- Reuters contributed to this report.