On Friday, U.S. automaker Ford’s stock fell 12% following news that the company had missed earnings estimates in the third financial quarter.
Ford reportedly pulled in $0.39 per share in earnings compared to analysts’ $0.45 expectations, and $41.18 billion in revenue versus the $41.22 billion predicted by Wall Street.
The automaker also said that the ongoing United Auto Workers strike cost the company $1.3 billion during the financial quarter.
Ford’s numbers come at a stark contrast to competitor General Motors’, which reported increased profits in Q3 amid the UAW strike.
