Investing.com - The largest U.S. automaker Ford (N:F) reported weaker than expected third quarter earnings, despite beating on revenue figures, it announced ahead of Tuesday’s opening bell.
Ford said adjusted earnings per share came in at $0.45 cents in the three months ended September 30, below expectations for earnings of $0.47 cents per share.
The company’s third quarter revenue totaled $38.1 billion, beating forecasts for revenue of $35.07 billion, as higher sales in the U.S. and Europe countered weakening new-car demand in China.
Following the release of the report, shares in Ford declined 49 cents, or 3.13%, in pre-market trade to $15.19 from a closing price of $15.68 on Monday.
Meanwhile, U.S. stock futures pointed to a lower open. The Dow futures shed 21 points, or 0.12%, the S&P 500 futures dipped 2 points, or 0.09%, while the Nasdaq 100 futures shed 2 points, or 0.04%.