Ford's stock plunged Tuesday after the carmaker delivered record quarterly earnings that were below analysts' forecasts. Revenues was better than expected.
By Tuesday afternoon, the carmaker's stock slipped more than 4 percent. Click here to track Ford's shares.
Before the markets opened, the automaker posted third-quarter earnings of 45 cents per share, up from 24 cents per share in the year-earlier period. Revenue rose to $35.80 billion from $32.80 billion a year ago.
Analysts expected quarterly earnings of 46 cents per share on revenue of $35.07 billion, according to Thomson Reuters.
The company attributed its earnings miss to higher-than-expected taxes.
"The Ford team delivered an outstanding quarter — with record third quarter profit, best quarter ever for North America, higher wholesales, higher revenue, higher market share and improved margin," Ford president and CEO Mark Fields said in the earnings release.
Ford's revenue in North America was $23.70 billion, well above the year-earlier period's total of $3.8 billion.