Ford Motor Co. said late Wednesday it had one of the best quarters on record as consumers welcomed its new vehicles and it swung to a profit, but the stock fell more than 3% in the extended session.

Ford F, -0.48% said it earned $3.3 billion, or 81 cents a share, in the first quarter, contrasting with a loss of $2 billion, or 50 cents a share, in the year-ago quarter.

Adjusted for one-time items, Ford said it earned 89 cents, versus an adjusted loss of 23 cents a share a year ago.

Sales rose 6% to $36.2 billion, the company said.

Analysts polled by FactSet expected Ford to report adjusted earnings of 22 cents on sales of $36.13 billion.

See also: Tesla’s first-quarter sales rise more than 70%, but stock slips

Ford shares have gained around 132% in the past 12 months, compared with gains of around 46% for the S&P 500 index SPX, -0.08% in the same period.

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