Popular automaker Ford Motor Company (F) exceeded the analysts’ revenue and EPS estimates in the second quarter. Its traditional business operations, Ford Blue, earned $2.31 billion, while its Ford Pro commercial business earned $2.39 billion. However, its “Model e” electric vehicle unit lost $1.08 billion in the quarter.
Following the automaker’s second-quarter earnings results, F’s CFO John Lawler said, “The transition to EVs is happening, it just may take a little longer.” The company said it now expects to lose $4.50 billion on the EV business this year, widening losses from roughly $3 billion a year earlier.
