Ford cuts full-year profit outlook as third-quarter profit dips - News Daily

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Wednesday, October 23, 2019

Ford cuts full-year profit outlook as third-quarter profit dips

By Ben Klayman and Paul Lienert DEARBORN, Mich. (Reuters) - Ford Motor Co on Wednesday cut its forecast for operating profit for the year after a disappointing third quarter that Chief Executive Jim Hackett blamed on higher warranty costs, bigger discounts and weaker than expected performance in China. Investors sold off Ford shares, which fell 2.5% to $8.98 in after-hours trading while shares in electric car maker Tesla Inc surged more than 20% on better than expected results

The post Ford cuts full-year profit outlook as third-quarter profit dips appeared first on Firstpost.



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