Ford's Q1 profits driven by gas-powered vehicles despite EV losses.

Ford's Q1 revenue and profit exceeded expectations due to strong demand for trucks and SUVs, but the company's outlook for the year is tempered by continued losses in its electric-vehicle unit. CEO Jim Farley stated that Ford does not intend to pursue EV sales volume "at any cost" and hopes to become "boringly predictable" at meeting investor expectations. The company plans to restructure its operations in China to run on lower investment and focus on its commercial vehicle business, including EVs. Ford's Q1 earnings before interest and taxes were $3.4 billion, beating analysts' expectations, but shares were down 2% in after-hours trading.