DETROIT – Ford Motor raised its earnings guidance for the year after reporting a surprise profit in the second quarter, saying demand for profitable new vehicles such as the Ford Bronco SUV will boost its performance.
Its revenue slightly missed expectations due to the ongoing global shortage of semiconductor chips, which continues to disrupt the automaker’s production. Ford on Wednesday said supplies of the critical parts are improving, however it lost production of about 700,000 vehicles during the second quarter.
Here’s how Ford did compared with what Wall Street expected based on average estimates compiled by Refinitiv.
- Adjusted results: 13 cents per share, adjusted vs a loss of 3…