Ford earnings and revenues beat analyst expectations on Thursday.
First quarter earnings were 39 cents, versus 35 cents expected by Thomson One analysts’ consensus.
Revenues were $39.1 billion, versus $34.7 billion expected by Thomson One.
Shares were up around 1 percent on the news.
Results were driven primarily by sales in North America, though Europe and Asia Pacific were also profitable.
Profits were lower over the same quarter last year, which the company said in a letter to shareholders was driven by higher higher warranty costs , investments in new products opportunities, and rising commodity costs. The Ford Credit business pre-tax profit was $481 million.
Ford said it still expects adjusted pre-tax profit to be about $9 billion in 2017. Full-year cost efficiencies of about $3 billion are expected to offset costs outside of investments in emerging opportunities, the company said in its shareholder letter.
Ford executive said in March quarterly results would be affected by a cost of $295 million for two recalls in North America, and that sales were softening in China, the world’s largest car market.