Ford Motor Company's (F) chief financial officer Bob Shanks is confident that investors will reward the company's self-driving car efforts.
Even though Ford and its rival General Motors (GM) have taken steps to develop autonomous cars, investors have been rewarding GM, sending shares up 30% since the start of the year. Ford shares are down slightly year-to-date.
Ford reported adjusted third quarter earnings of 43 cents a share on Thursday, which easily topped analyst expectations of 33 cents, according to FactSet. The Michigan-based company clocked revenue of $36.5 billion, which also bested analysts' forecast of $33 billion.
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