Ford Profits Climb in 2nd Quarter

By: Associated Press
By: Associated Press
Automaker reports its highest-ever pretax profit in North America.

MGN Online

DEARBORN, Mich. (AP) -- Ford Motor Co.'s second quarter net income rose 6 percent to $1.3 billion as the company saw record profits in North America and made money in Europe for the first time in three years.

The profit, of 32 cents per share, was up from 30 cents per share in the April-June period a year ago.

Excluding separation costs and other one-time payments, Ford earned 40 cents per share. That beat analysts' forecast of 36 cents, according to FactSet.

Ford's revenue fell 1 percent to $37.4 billion, ahead of analysts' expectation of $36.2 billion.

Ford reported its highest-ever pretax profit of $2.4 billion in North America. In Europe, the company made $14 million, while in Asia Ford's profit jumped 22 percent to $159 million.

Ford lost $295 million in South America.


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