Ford’s third-quarter earnings report is a classic test of whether you want to view the glass as half-empty or half-full.
The maker recently warned that it would deliver a substantially lower profits due to problems in Europe and other markets, as well as having to cover the cost of a big recall. And, indeed, earnings for the July to September period plunged sharply, from $1.3 billion a year ago to just $835 million.
The pre-tax profit, at $1.2 billion, was off from a year-earlier $2.6 billion. But at 24 cents a share, that nonetheless managed to beat the 19-cent consensus estimate, according to analysts polled by Thomson Reuters. (more…)