Ford Motor Co.
reported a 45 percent decline in first quarter earnings Friday, narrowly beating analyst expectations.
Profits fell to $1.4 billion on revenues of $32.4 billion, from $2.6 billion the same quarter last year.
About half the decrease was due to a higher tax rate, with the remainder due to factors such as softening global markets and comparisons with a strong first quarter last year, the automaker's best since 1998.
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