Ford posts profits on strong sales
Ford Motor Co. said Tuesday it earned $2.1 billion in the first quarter, another sign the economy is improving as people spend more on big-ticket items like cars. The automaker expects to be solidly profitable this year, a year earlier than its previous guidance.
DEARBORN, Mich. (AP) — Ford Motor Co. said Tuesday it earned $2.1 billion in the first quarter, another sign the economy is improving as people spend more on big-ticket items like cars. The automaker expects to be solidly profitable this year, a year earlier than its previous guidance.
Ford said its net income per share was 50 cents during the quarter. That’s an about-face from the same period last year when it lost $1.4 billion, or 60 cents per share, at the height of the recession. It was Ford’s highest quarterly profit in six years.
The company was profitable in its key North American market, but it also made money in Asia, South America and Europe.
Revenue rose 15 percent to $28.1 billion.
Tags: us business, business, ford, profit, sales, auto
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