Ford Motor Reports 5% Revenue Growth to $50.2 Billion in Q2, Anticipating $2 Billion Net Tariff Impact for Fiscal Year
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Ford Motor Company's financial report released on July 30 revealed that revenues for the second quarter surged to $50.2 billion, marking a 5% year-over-year increase. However, the company's net profit transformed into a loss, contrasting sharply with the $1.8 billion profit recorded in the corresponding period last year. After adjustments, earnings before interest and taxes (EBIT) stood at $2.1 billion, a decline of 25% compared to the previous year. Earnings per share (EPS) amounted to $0.37, down $0.10 from the same period in 2021. Furthermore, Ford anticipates that the net impact of tariffs will approximate $2 billion for the entire fiscal year.