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Ford Motor posts stronger-than-expected profit, raises full-year forecast

10/27/2021 | 04:27pm EST

DETROIT, Oct 27 (Reuters) - Ford Motor Co on Wednesday reported a stronger-than-expected third-quarter profit and raised its full-year earnings forecast as strong demand for its trucks helped offset the hit from a global semiconductor shortage.

In an indication that Ford is managing the chip shortage better than its rival, Ford, with sales of $35.7 billion, generated more revenue than competitor General Motors Co. GM earlier on Wednesday reported quarterly revenue of $26.8 billion.

Ford's net income was $1.8 billion, down from $2.4 billion a year earlier.

Earnings per share were 45 cents, compared with 60 cents in the year-ago period.

(Reporting by Paul Lienert and Ben Klayman in Detroit; Editing by Chris Reese and Cynthia Osterman)


ę Reuters 2021
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