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AFP News

Ford Profits Tumble On Higher Costs, Hitting Shares

Ford John Lawler

Ford earnings missed estimates on higher costs for warranties and product launches (Credit: AFP)

Ford shares tumbled Wednesday after the automaker reported lower than expected profits on higher costs connected to product launches and warranty repairs for older model vehicles.

Profits fell 4.5 percent to $1.8 billion, while revenues rose 6.3 percent to $47.8 billion.

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