Ford earnings top expectations

Ford beats the Street by a nickel
Ford beats the Street by a nickel   

Ford Motor delivered quarterly earnings that surpassed analysts' expectations on Friday, but revenue was light.

After the earnings announcement, the company's shares rose about 2 percent in premarket trading. (Get the latest quote here.)

The company posted third-quarter earnings excluding items of 24 cents per share, down from 45 cents a share in the year-earlier period.

Revenue decreased to $32.9 billion from $33.86 billion a year ago. Revenues slipped in part due to the cost of introducing the F-150 pickup truck.

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Ford's launch of its F-150 made with an aluminum body is on track, the company said on Friday. A 3 percent drop in third-quarter revenue to $34.9 billion is largely linked to the shutdown of the F-150 plant in Dearborn, Michigan. The vehicle will go on sale by the end of the year.

Big gains for truck and SUV sales helped to prop up earnings.

Analysts had expected the company to report earnings of 19 cents a share on $33.11 billion in revenue, according to a consensus estimate from Thomson Reuters.

A Ford Escape is seen on a dealerships lot on September 26, 2014 in Miami, Florida.
Getty Images
A Ford Escape is seen on a dealerships lot on September 26, 2014 in Miami, Florida.

Ford said on Monday it will add 850 hourly jobs at its Dearborn, Michigan, facilities to support the launch of the redesigned, aluminum-intensive 2015 F-150 pickup truck.

The No. 2 U.S. automaker said the new jobs are divided among three facilities: more than 500 jobs for the truck assembly plant, nearly 300 for the stamping factory and more than 50 at the diversified operations.

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CNBC's Karma Allen and Reuters contributed to this report.