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Ford Motor Co shares dip in premarket after reporting mixed fourth quarter results

Last updated: 08:53 25 Jan 2018 EST, First published: 03:53 25 Jan 2018 EST

Ford
In premarket, Ford shares were down 0.91% at US$12.05.

Ford Motor Co (NYSE:F) saw its shares dip further in premarket after losing steam late Wednesday following the release of mixed fourth quarter results.

The car maker said that in the quarter, net income came in at US$2.4bn or 60 US cents a share, a vast improvement from the loss of US$781mln or 20 US cents a share recorded a year ago.

READ: Tesla faces rising competition as Ford says it will invest more in electric vehicles

After adjustments for one-time items, it took in 39 US cents a share, up from the 30 US cents a share recorded a year ago.

Sales shot up by 7% to US$41.3mln, compared with US$38.7bn a year ago.

The market had pencilled in an adjusted earnings of 43 US cents a share on sales of US$36.3bn.

In premarket, Ford shares were down 0.91% at US$12.05.

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