Ford Reports A Quarterly Loss, Remaining Downbeat Forecast for 2017

Shares of Ford Motor Company lost nearly 1% in premarket trade on Thursday after the No. 2 U.S. automaker reported a loss of $783 million, or 20 cents per share for the fourth quarter.

The loss in the quarter was due to a $3 billion non-cash accounting re-measurement announced last week. Excluding one-time items, Ford earned 30 cents a share, matching the estimates of analysts.

For the full year, net income came in at $4.6 billion, or $1.15 per share. Revenue for the three-month quarter ending December hit $38.7 billion, above the $35.0 billion consensus estimate. The company did not make the year-earlier revenue available.

Looking toward 2017, Ford maintained a forecast that calls for less profit than 2016.

Trade suggestion

Sell Stop at 12.68, Take profit 12.00, Stop loss at 13.00

Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!

Leave a Reply

Your email address will not be published. Required fields are marked *