Ford Motor Company profits outpaced Wall Street expectations in Q2, earning 72 cents per share compared to the 55 cents per share previously anticipated by financial analysts.
The revenue mainly comes from Ford’s traditional combustion engine vehicles, while the company’s so-called “Model e” electric car division continues to operate at a loss.
Ford’s Model e sector losses before interest and taxes (EBIT) bloomed to $1.1 billion in Q2, up nearly $400 million from Q1.
The company chalked up its Model e losses to the overall pricing environment of the EV industry and expects for its sector losses to continue rising short-term.
