Ford's first-quarter adjusted profit falls

Ford Motor Co F reported a fall in first-quarter adjusted profit on Wednesday, as the automaker navigates higher costs of labor and electric vehicle production.

The Detroit automaker posted quarterly adjusted earnings of 49 cents per share, compared with 63 cents per share a year earlier.

Analysts, on average, expected Ford to report an adjusted profit of 40 cents per share, according to LSEG data.