Ford Motor Company announced on Monday that its revenue in the third quarter grew 5% year-over-year, landing at $46.2 billion.
Diluted earnings per share came in at $0.22 in the reported trimester, shrinking from recorded earnings per share of $0.30 in the same period last year. Net income amounted to $900 million, falling from $1.2 billion seen in the corresponding quarter the year before. The carmaker projected its full-year adjusted earnings before interest and taxes (EBIT) to amount to roughly $10 billion.
"We have made strategic decisions and taken tough actions to create advantages for Ford versus the competition in key areas like Ford Pro, international operations, software, and next-generation electric vehicles," CEO Jim Farley said.
The carmaker's shares slid by 1.34% in extended trading after the results were published.
