Ford profit drops on higher costs, lower vehicle sales

[April 27, 2017]  DETROIT (Reuters) - Ford Motor Co on Thursday reported a lower quarterly net profit due to higher costs and investments, plus a slight decline in vehicle sales.

The Dearborn, Michigan-based company reported a first-quarter net profit of $1.6 billion, or 40 cents per share, down 36 percent from $2.5 billion, or 61 cents per share, a year earlier. Analysts had, on average, expected earnings per share for the quarter of 35 cents.

(Reporting By Nick Carey; Editing by Bernadette Baum)

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The logo of Ford is seen during the 87th International Motor Show at Palexpo in Geneva, Switzerland March 8, 2017. REUTERS/Arnd Wiegmann/File Photo