Ford Motor (F) reported Q1 FY 2021 earnings of $0.89 per share (versus -$0.23 per share in Q1 FY 2020), beating analysts’ consensus estimate of $0.13 per share.

The company’s quarterly revenues amounted to $33.554 bln (+7.1% y/y), beating analysts’ consensus estimate of $32.719 bln.

The company, however, warned it expects to lose about 50% of its planned Q2 FY 2021 production, due to the chip shortage, but Q2 should be the trough.

F fell to $12.10 (-2.65%) in pre-market trading.