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Ford Q4 adjusted earnings $2.1 billion

Staff Writer |
Ford Motor Company reported fourth quarter fiscal 2016 earnings results. The revenue beat was driven by better-than-expected demand and improving operating results in North America and better profitability in Europe.

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In the three months that ended December, Ford reported a loss of $783 million, or 20 cents per share.

The loss was due to a non-cash accounting remeasurement the company announced last week, amounting to $3 billion.

However, when adjusting out that remeasurement and other one-time gains and costs, earnings came $2.1 billion, or 30 cents per share and while that was down 20% year over year, it still represents a record quarter for the company.

Fourth quarter revenue came to $38.7 billion, which grew 2.3% year over year from $37.8 billion.

POST forecast was EPS $0.34 and revenue $35.07 billion.

The revenue beat was ached despite Ford suffering a 2% decline in U.S. sales and reporting lower global wholesales, including in North America.

For the full year, Ford’s operating earnings came to $10.4 billion, topping its own guidance and marking the company’s second-best pretax profit in history.

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