October 31, 2012 at 08:46 AM EDT
Ford Reports a Drop in Q3 Income; Still Beats Estimates (F)

American automotive giant Ford Motor Company (F) reported a fall in third quarter revenue and income on Tuesday, but earnings beat Wall Street estimates.

The Dearborn, Michigan based company reported third quarter net income of $1.63 billion, or 41 cents per share, down 1.2% from $1.65 billion, or 41 cents per share, a year ago. Wall Street analysts expected adjusted earnings per share to be 30 cents.

Revenue for Ford fell 2.9% to $32.1 from the third quarter in 2011. The average analyst expectation was $32.17 billion.

“The Ford team delivered a best-ever third quarter, driven by record results in North America,” said Alan Mulally, chief executive officer, in a statement. “While we are facing near-term challenges in Europe, we are fully committed to transforming our business.”

Ford shares were up 39 cents, or +3.76%, in premarket trading on Wednesday.

Ford Motor Company (F) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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