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International Business Times

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AFP News

Ford Beats Earnings Expectations Despite Rising Labor Cost

Ford electric vehicle General Motors United States

Auto giant Ford beat earnings expectations in its latest results, although its electric vehicle unit logged losses (Credit: AFP)

US automaker Ford topped earnings expectations in the fourth quarter of 2023 and is forecasting higher profits this year despite greater labor costs and losses in its electric vehicle segment, according to a financial report released Tuesday.

The company reported adjusted earnings per share of 29 cents for the fourth quarter, above analyst estimates, while revenue came in at $46 billion for the period.

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