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.