Ford Motor Earned 40 Cents per Share

Ford Motor ($F) had a good second quarter. The automaker continues to get back on track. Ford earned 40 cents per share which was four cents more than estimates.

Despite lagging sales and revenue, the Dearborn, Mich.-based automaker’s cost savings in the second quarter powered it to a record quarterly profit in North America and strong showings in other markets around the world — including its first quarterly profit in Europe in three years. The exception was South America, where the company reported a loss of about $300 million.

The automaker said Thursday its net income rose to $1.3 billion, a 6 percent gain from the period a year ago. Operating earnings for the quarter exceeded Wall Street’s prediction of 36 cents a share, as Ford earned 40 cents a share — a profit of $2.6 billion — excluding one-time charges.

The stock has been as high as $18.12 today, but has since pulled back.

Posted by on July 24th, 2014 at 12:31 pm

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