Ford Motor Co. turned a net loss of $3.1 billion in the preceding quarter into a profit of $1.76 billion in the most recent quarter.
The organization’s gas-powered motor vehicle unit, which made $2.62 billion preceding charges during the quarter.
$1.37 billion was added by Ford Pro, the commercial vehicle division. However, Ford’s electric vehicle division, Model e, suffered a pre-tax loss of $722 million.
Excluding one-time items, Ford earned 44 cents per share. That beat Money Road appraisals of 42 pennies, as per FactSet.
Revenue increased by 20% to $41.74 billion, exceeding analysts’ expectations of $39.25 billion.