TapForMobile

Comcast Corporation, Ford Motor Company Shares Rise On Earnings


Ford earned US39c per share, which compares favourably with the 36 cents per share Wall Street analysts, on average, expected it to earn.

The No. 2 US automaker's profit fell in the quarter amid higher costs and investments, and a slight decline in vehicle sales.

The Dearborn, Mich. -based automaker has seen sales rev up over the last seven years, but is in a highly cyclical industry that may be due for a downturn, if flagging sales are any indication.

Pretax earnings were $2.2 billion, down $1.6 billion, or 42 percent, from a year earlier, when Ford posted its best quarter in the company's 114-year history.

Net income fell 35%, from $2.46 billion in the first quarter of 2016 to $1.59 billion.

In Europe, Ford posted a pretax profit of $176 million, compared with $434 million in the year-ago period with exchange rate and Brexit headwinds offsetting higher sales volumes.

Ford Motor Company (F) has reported a 35.28 percent plunge in profit for the quarter ended March 31, 2017.

According to the company, total revenue was up 4% to $39.1 billion, automotive revenue increased from $35.3 billion the same period past year to $36.5 billion, beating estimates of $34.7 billion.


Ford delivered 1.7-million vehicles globally in the first quarter, while Daimler delivered 754,300, of which 568,100 were Mercedes-Benz cars. That's down from $10.4 billion in 2016.

Comcast reported earnings of 53 cents per share on $20.5 billion in revenue, compared to the analyst estimates of 44 cents per share and $20.1 billion in revenue.

Revenue during the quarter grew 3.79 percent to $39,146 million from $37,718 million in the previous year period.

Ford's market share declined by 0.5 percent to 14.1 percent in North America largely because of lower fleet sales. USA retail share was up, reflecting higher share in trucks, utilities and Lincoln.

The U.S. auto industry has enjoyed year-on-year increases in sales since the end of the Great Recession and hit 17.55 million units in 2016.

Ford shares gained 2.1 per cent to $11.84 in premarket trading. The Ford Credit business pretax profit was $481 million.

Ford attributed the decline in profit to higher costs along with a slight decrease in market share and lower net pricing that was caused by higher incentive spending.

"Tesla is just all about the long-term potential of the company", David Whiston, an analyst with Morningstar Inc.in Chicago, said by phone ahead of Ford's earnings release.

Related Articles

  • Call of Duty WWII Release Date Soon - Trailer and Improvements Available

    Call of Duty WWII Release Date Soon - Trailer and Improvements Available

    United Offensive was actually the first game released in the series , and it only came out for PC when it was released in 2004. The Call of Duty: WW2 leaks regarding the beta, Season Pass, release date and special editions were all spot-on.
    700 million people are now using Instagram

    700 million people are now using Instagram

    A few weeks ago, Instagram updated its messaging service to be more like Snapchat's with unified ephemeral and direct messaging. Like Snapchat, it also has a tool called "Stories" so users can post videos and photos that only stay on the site for 24 hours.
    DJ Jazzy Jeff and the Fresh Prince have announced reunion shows

    DJ Jazzy Jeff and the Fresh Prince have announced reunion shows

    Tickets for Livewire Festival go on sale at 10am on Tuesday 25 April. Sinitta, The Jacksons and Jason Donovan are also performing.
  • France refuses to extradite Kosovo ex-PM to face war crimes charges

    France refuses to extradite Kosovo ex-PM to face war crimes charges

    His arrest had triggered outrage in Kosovo, where the government called the Serbian charges "illegal, unfair, and tendentious". Serbia says it has evidence of Haradinaj's involvement in crimes not considered in his previous trials.

    Red Sox-Yankees Postponed; Rescheduled As Day-Night Doubleheader On July 16

    Chapman then walked Hanley Ramirez , putting the tying run on base and brining the winning run to the plate. It was the seventh blast of the season for Judge, who's hit them all in his last 13 games.
    Harry Styles sets weeklong 'Late Late Show' residency

    Harry Styles sets weeklong 'Late Late Show' residency

    Corden responds with "I think you know what I mean", insinuating that Styles might be tempted to invite over some lady friends. Beginning May 15, Styles will join Corden on his late-night talk show for an entire week.
  • Abbas to stop funding electricity in Hamas-run Gaza

    The PA has informed Israel that effective immediately, it will not pay for electricity to the Gaza Strip. They probably figure the world will blame Israel for the ensuing humanitarian crisis anyway, so all good.

    Pentagon watchdog probes Flynn payments

    That briefing also produced this incredible quote from Chaffetz regarding Flynn: "I see no data to support the notion that Gen. Spicer says the administration welcomes the inquiry announced Thursday by Maryland Democratic congressman Elijah Cummings.
    U.S. Navy fires warning flare at Iran vessel in Persian Gulf

    U.S. Navy fires warning flare at Iran vessel in Persian Gulf

    The report also said the American crew fired flares and sounded sirens to warn off the Iranian crew. Navy and the Iranian military, the approaching vessels came with 900 yards of the USS Mahan .
  • Predators' Fiala out of playoffs after breaking leg

    Predators' Fiala out of playoffs after breaking leg

    Nashville took a 1-0 lead in the first period when James Neal banged in a rebound off a Ryan Ellis slapshot. "It sucks obviously. After the ambulance took Fiala to the hospital, the teams had to wait for another one to arrive before the game could restart.
    Google Home just became the flawless  sous-chef for your kitchen

    Google Home just became the flawless sous-chef for your kitchen

    Google Home has finally arrived in the United Kingdom , bringing a number of exciting new features to the connected home. This paves the way for a slew of new devices beyond the bounds of Google Home and select now supported Android devices.

    Homers by Mancini, Schoop carry Orioles past Red Sox 4-2

    His high, very inside pitch came two days after Machado took out Red Sox second baseman Dustin Pedroia with a spikes-high slide. The left-hander gave up two runs on six hits in six innings and needed to escape jams in each of his last three innings.

Comments