Ford Motor Co. (NYSE:F) saw its shares accelerate higher in pre-market trading after the autos giant’s third quarter profit and revenue beat market estimates driven by strong sales of its F-series pick-ups in the US, Canada and Mexico.
The car maker reported third quarter net income of US$1.6bn, or 39 US cents a share, up from US$957mln, or 24 US cents a share a year earlier, with its adjusted earnings per share earnings was 46 US cents, ahead of the 33 US cents consensus estimates.
The firm saw its revenue rise to US$36.5bn, up from US$35.9bn a year earlier, also ahead of the consensus of US$32.9bn.
Ford’s chief executive, Bob Shanks also said the company was tightening its full-year earnings guidance to a range of US$1.75 to US$1.85 per share, ahead of the US$1.74 consensus.
In pre-market trading in New York, Ford shares were up 1.7% at US$12.25.