How Ford Motor Company Beat Estimates With a Surprise Profit Amid the Chip Shortage
Ford Motor Company (NYSE: F) reported second-quarter earnings on Wednesday afternoon that trounced Wall Street's estimates -- and raised its guidance for the full year -- as strong pricing for both new and off-lease vehicles helped offset production disruptions caused by a global shortage of computer chips.
On an adjusted basis, excluding one-time items, Ford earned $0.13 per share on revenue of $26.8 billion. That was a double beat: Wall Street analysts polled by Thomson Reuters had expected Ford to report a loss of $0.10 per share on revenue of $23.84 billion, on average.
Data source: Ford Motor Company. Adjusted figures exclude the effects of one-time items. Wholesale units represent the number of vehicles shipped to dealers and are rounded to the nearest thousand.
Source Fool.com
