This morning, Ford announced losses from the first quarter of FY2009. The bad news is, they suck. The good news is, they don't suck as badly as most people expected. It's kinda like walking into a movie theater and expecting Empire of the Ants, but only having to sit through Jaws 2.
Specifically, Ford saw a loss of $1.8 billion, which is a far cry from the $477 million Ford earned in the first quarter of 2008. However, that loss translates to about 75 cents per share, and analysts we anticipating losses of around $1.23 a share, so we suppose the Blue Oval has something to smile about. (For those keeping score at home, the first quarter of 2009 has been the worst three months of auto sales in over 25 years, which makes Ford's financial data look even more impressive.)
Despite the bad news, Ford says it's still on target to hit internal financial goals. And between all this qualified good news, Ford shares rose 25% in pre-market trading. So even though we're not licensed psychics, we're pretty sure at least one of the Big Three is going to make it through this alive.