Investing.com – Ford Motor (NYSE:) reported on Wednesday third quarter that beat analysts’ forecasts and income that fell wanting expectations.

Ford Motor introduced earnings per share of 51 cents on income of $35.68 billion. Analysts polled by Investing.com anticipated EPS of 26 cents on income of $37.66 billion.

Ford Motor shares are up 76% from the start of the 12 months, nonetheless down 7.07% from its 52 week excessive of $16.70 set on October 21. They’re outperforming the S&P International 100 which is up 17.93% from the beginning of the 12 months.

Ford Motor shares gained 5.35% in after-hours commerce following the report.

Ford mentioned it noticed excessive demand for brand spanking new merchandise, together with battery-electric automobiles and that income, web earnings, adjusted earnings, money movement from operations, and adjusted free money movement have been all sharply increased from Q2 to Q3 2021 attributable to a major enhance in semiconductor availability and wholesale car shipments from Q2.

“That is probably the most thrilling Ford lineup I’ve seen, however what issues is that clients love our new services – and we’re simply getting began,” mentioned President and CEO Jim Farley. “The trajectory of our enterprise offers us enormous confidence in Ford+, and we’re obsessively turning the plan’s promise into actuality.”

Trying forward, Ford elevated steering for the full-year adjusted EBIT to between $10.5 billion and $11.5 billion. The corporate additionally mentioned it expects money movement over the present planning interval to be greater than adequate to fund its progress priorities.

Ford Motor’s report follows an earnings beat by Tesla on October 20, who reported EPS of $1.86 on income of $13.76 billion, in comparison with forecasts EPS of $1.62 on income of $14 billion.

Common Motors had beat expectations on Wednesday with third quarter EPS of $1.52 on income of $26.78 billion, in comparison with forecast for EPS of 86 cents on income of $30.92 bilion.

Keep up-to-date on all the upcoming earnings reviews by visiting Investing.com’s earnings calendar