Ford’s profits soar
Ford is one of the world’s largest automobile companies, headquartered in Dearborn
Ford stock rose to 14 dollars after falling to 13 dollars in May 2021 to August
Ford outperformed General Motors by redistributing quarterly dividends to shareholders, as well as raising .full-year earnings guidance.
After Wednesday, the company reported earnings per share of 51 cents
Ford shares rose nearly 10% in after-hours trading, boosting its earnings forecast and outpacing General Motors in quarterly revenue.(Ford STOCK
GM stock fell 5.4% on Wednesday
While the Standard & Poor’s 500 Index fell 0.5%.
However, that delay and decline in the company’s revenues during nearly a year is the Covid crisis, which the world is facing at that time.
Ford Motor handily beat its larger Motown rival in the feel-good stakes last quarter. General Motors , and shareholders knocked more than 5% off the stock. Ford shares, on the other hand, rose nearly 10% in after-hours trade after it reinstated its dividend, boosted its earnings outlook and overtook GM in quarterly revenue. But investors are hitting the accelerator too hard.
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