Ford's Stock Tumbles After Profit Misses Expectations

Ford Motor Co.'s stock tumbled 6.1% in premarket trade Thursday, after the automaker reported second-quarter earnings that missed expectations, while revenue beat. Earnings for the latest quarter fell to $1.97 billion, or 49 cents a share, from $2.16 billion, or 54 cents a share, in the same period a year ago. Adjusted earning per share came in at 52 cents, below the FactSet consensus of 60 cents. Revenue rose to $39.49 billion from $37.26 billion, above the FactSet consensus of $36.2 billion, as a miss in North America was offset by beats in Europe, South America, Asia Pacific and Middle East & Africa. "We remain committed to delivering another full year of strong profitability, even as we address some new risks and market challenges around the world," said Chief Executive Mark Fields. The stock has slipped 1.8% year to date through Wednesday, while the S&P 500 has gained 6%.