Category: Companies / October 24, 2013 10:36 AM EDT
Ford Motor Company (NYSE: F) reported fiscal third-quarter net income fell to $1.27 billion, or 31 cents per share, as revenue rose 12 percent to $36 billion. Excluding one-time items, the company issued earnings of 45 cents per share, above Wall Street expectations for 38 cents. In addition, the automaker raised its guidance for 2013.
“In the fourth quarter, Ford expects total company production will be about 1.6 million units, 102,000 units higher than a year ago,” the company said in its third-quarter earnings statement. “This includes a reduction of 15,000 units from the company’s prior guidance for North America.”
Shares of Ford Motor Company rose 2.11 percent to $17.89 in morning trading.
Also on Thursday, 3M Co (NYSE: MMM), Southwest Airlines Co. (NYSE: LUV), The Dow Chemical Company (NYSE: DOW) and Xerox Corporation (NYSE: XRX) reported quarterly results before the market opened.
The Dow Jones industrial average rose 43.22 points, or 0.28 percent, at 15,456.55. The S&P 500 was up 0.25 points, or 0.01 percent, at 1,746.85. The Nasdaq Composite Index was up 7.64 points, or 0.20 percent, at 3,915.76.