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Ford Raises its Forecast For 2021 After Posting Surprising Profits in The Second Quarter

Adel 29 July, 2021 11:44 am Global Stock Market, Market Update

Ford Motor Company raised its earnings forecast for this year after it announced a windfall profit, saying it was selling more expensive cars.

Its revenue slightly missed expectations due to an ongoing global shortage of semiconductor chips.

Earnings per share were 13 cents, versus expectations of a loss of 3 cents, while auto revenues were $24.13 billion, versus expectations of $24.25 billion.

Ford raised its full-year earnings forecast before taxes by about $3.5 billion, to between $9 billion and $10 billion.

The company expected the sales volume to increase by about 30% from the first half to the second half of the year with the improvement of market factors.

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