Ford cuts profit out­look as Q3 profit dips

The Korea Times - - WORLD BUSINESS -

DEAR­BORN, Mich. (Reuters) — Ford Mo­tor on Wed­nes­day cut its fore­cast for op­er­at­ing profit for the year after a dis­ap­point­ing third quar­ter that Chief Ex­ec­u­tive Jim Hack­ett blamed on higher war­ranty costs, big­ger dis­counts and weaker than ex­pected per­for­mance in China.

In­vestors sold off Ford shares, which fell 2.5 per­cent to $8.98 in after-hours trad­ing while shares in elec­tric car maker Tesla surged more than 20 per­cent on bet­ter than ex­pected re­sults.

Newspapers in English

Newspapers from Korea, Republic

© PressReader. All rights reserved.