Ford (F) announced on Friday that net income dropped bye 45 percent due to plummeting sales in Europe and a higher tax rate. The company earned $1.4 billion, or 35 cents per share, in the first quarter down from $2.5 billion, or 61 cents in the same period last year. Revenue fell by 2 percent to $32.4 billion. Excluding one-time items, the company earned 39 cents, beating analyst estimates of earnings of 35 cents per share on revenue of $32.3 billion.
Shares are slightly higher in early trading.
Procter & Gamble (PG) announced on Friday that third-quarter¬†net dropped by 16 percent due to higher costs for raw materials and restructuring costs. The company also reduced 2012 guidance due to volume declines in several markets. Net income fell 16 to $2.41 billion, or 82 cents per share during the quarter versus $2.87 billion, or 96 cents per share in the same period last year. Revenue increased by 2 percent to $20.19 billion, lower than analyst estimates of $20.35 billion.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.