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Ford Q4 earnings beat estimates; reaffirms full-year forecast

Published 01/28/2014, 07:27 AM
Updated 01/28/2014, 07:27 AM
Ford Q4 earnings beat estimates; shares up 3.8% ahead of the open

Investing.com - The largest U.S. automaker Ford reported better-than-expected fourth quarter earnings and revenue on Tuesday, sending its shares 2% higher in pre-market trade.

Ford said adjusted earnings per share came in at USD0.31 during the fourth quarter, above expectations for earnings of USD0.28 per share. The company’s fourth quarter revenue totaled USD37.6 billion, beating forecasts for revenue of USD35.4 billion.

For the full year 2013, pre-tax profit was USD8.6 billion, one of Ford's best years ever. Full year earnings per share totaled USD1.62, an increase of USD0.21 per share compared with a year ago.

Ford's outlook for 2014 is unchanged. Ford expects another solid year with total company pre-tax profit to range from USD7 billion to USD8 billion.

"We had an outstanding year in 2013, demonstrating that our One Ford plan continues to drive solid results and profitable growth for all," saidAlan Mulally, Ford president and CEO.

Following the release of the report, shares in Ford jumped 3.8% in pre-market trade.

Meanwhile, the outlook for U.S. equity markets was mixed. The Dow Jones Industrial Average futures indicated a gain of 0.6% at the open, S&P 500 futures pointed to a rise of 0.45%, while Nasdaq 100 futures dipped 0.35% ahead of the open.

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