Ford announced first quarter earning in which net income declined, to $1.1 billion from $1.7 billion. Earnings per share were $0.29 cents per share, down from $0.44, but better than expected. Also, revenue fell to $40.3 billion from $41.9 billion a year earlier, but higher than expected. Beating the expectations were enough to send the stock 10% higher on Friday, it’s best one day performance since 2009.
“North America’s EBIT improvement was driven by our F-Series, despite new competitive challenges; Ranger as it came to market, and Transit America’s best selling van,” Ford CFO Bob Shanks told investors on a conference
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