Ford Profits Fall in Second Quarter

By: Associated Press
By: Associated Press

Ford beat Wall Street expectations but says its second-quarter profit fell 19 percent from a year ago due to sluggish sales early on.

The Dearborn carmaker was stung by lower production and intense competition in North America, where it lost more than $900 million.

Ford reported $946 million in earnings for the period versus a profit of one-point-two billion dollars a year earlier.

The Dearborn automaker stayed in the black because its finance arm contributed more than one billion to the bottom line.

Ford says it will respond by improving its cost structure and making essential investments in the future.

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