Ford beats on second-quarter earnings

Ford Chart

Ford reported second-quarter earnings on Wednesday, and they beat analysts’ expectations. The company made $US0.56 per share on an adjusted basis, versus an expected $US0.43.

The carmaker is filing Q2 results for the first time under new CEO Jim Hackett, who took over from Mark Fields earlier this year after Ford’s stock underperformed the broader markets.

Hackett, a former Steelcase CEO, has been overseeing Ford’s Smart Mobility initiative.

His objective at the company will be to press forward with high-tech efforts to contend with Tesla and other carmakers on electric and self-driving vehicles.

Ford shares were up 1% in pre-market trading on Wednesday, to $US11.40.

Get the latest Ford stock price here.