The Future?, page-765

Ford reports quarterly loss tops $2 billion, increases investment in electric vehicles

Ford Motor Co. late Thursday reported a wider-than-expected quarterly loss, but the stock traded higher as Wall Street seemed to focus on a renewed push toward autonomous and electric vehicles.

Ford said it lost $2.8 billion, or 70 cents a share, in the quarter, compared with a loss of $1.7 billion, or 42 cents a share, in the year-ago quarter. Sales fell to $36 billion from $39.7 billion a year ago.

Analysts polled by FactSet had expected Ford to report a GAAP and adjusted loss of 7 cents a share on sales of $36.8 billion.

Ford said it increased its “commitment to invest in growth,” planning to spend more than $22 billion in electric vehicles and $7 billion in autonomous vehicles.