Investing.com - The largest U.S. automaker Ford Motor Company (NYSE:F) reported better-than-expected second quarter earnings, despite missing on revenue figures, it announced ahead of Thursday’s opening bell.
Ford said adjusted earnings per share came in at 40 cents during the second quarter, above expectations for earnings of 37 cents per share.
The company’s second quarter revenue totaled $37.4 billion, missing forecasts for revenue of $38.13 billion.
Ford also affirmed its full-year pre-tax profit guidance of $7 billion to $8 billion as it continues to implement its One Ford plan to deliver profitable growth for all.
All Automotive business units contributed to the company’s pre-tax profit and all improved from a year ago, except South America.
North America achieved record quarterly performance for pre-tax profit, and Asia Pacific achieved a second quarter record. Europe earned its first quarterly profit since the market dramatically declined three years ago.
“Our second quarter results demonstrate the underlying strength of our business”, said Bob Shanks, executive vice president and chief financial officer.
Following the release of the report, shares in Ford (NYSE:F) eased up 1.2% in pre-market trade.
Meanwhile, the outlook for U.S. equity markets was upbeat. The Dow indicated a gain of 0.15% at the open, the S&P 500 pointed to a rise of 0.1%, while Nasdaq 100 tacked on 0.2%.