(CNBC) Ford Motor posted first-quarter results Wednesday that were in line with Wall Street’s expectations, though its net profit was dragged down by a stake in electric vehicle maker Rivian Automotive and reduced vehicle production. Ford reported an unadjusted net loss of $3.1 billion, including a loss of $5.4 billion on the company’s 12% stake in Rivian. That’s compared with a net profit of $3.3 billion during the same period a year ago.
Ford sees first-quarter profit dragged lower by Rivian stake, but maintains 2022 earnings guidance
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