Ford Beats Estimates; Intel Posts Surprise Profit
- July 27th, 2023
- 329 views
Ford Motor Company (NYSE: F) delivered strong second-quarter 2023 adjusted earnings per share (EPS) of $0.72 and revenue of $45.00 billion, beating the consensus EPS estimate of $0.55 on revenue of $40.38 billion.
In response to the robust performance, Ford is raising its guidance range for full-year 2023 consolidated adjusted EBIT to between $11 billion and $12 billion. The company is also increasing its expectations for full-year adjusted free cash flow to between $6.5 billion and $7 billion.
$F surged by $0.27 (+1.97%) in after-hours trading, reaching $14.00.
On the other hand, Intel Corporation (Nasdaq: INTC) reported Q2 2023 adjusted EPS of $0.13 and revenue of $12.95 billion, surpassing the consensus loss estimate of $0.03 per share on revenue of $10.97 billion.
For the upcoming third quarter, Intel is forecasting an EPS of $0.20, while analysts are expecting $0.14.
In after-hours, $INTC was trading at $37.12, reflecting a gain of $2.57 (+7.44%)
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