Market Updates
Ford Reports Profitable Quarter
Elena
26 Jul, 2007
New York City
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Ford Motor exceeded analyst expectations by posting its first profitable quarter in two years. The auto maker reported Q2 earnings of $750 million, or 31 cents per share, compared with a net loss of $317 million, or 17 cents per share last year, beating estimates of a loss of 35 cents. Ford attributed the positive results to improvements in its automotive operations, cost reductions and special items.
[R]8:00AM Ford Motor posted its first profitable quarter in two years.[/R]
Ford Motor ((F)) exceeded analyst expectations by posting its first profitable quarter in two years. The auto maker reported Q2 earnings of $750 million, or 31 cents per share, compared with a net loss of $317 million, or 17 cents per share last year, beating estimates of a loss of 35 cents. Ford said revenue rose 5.5% to $44.2 billion for the quarter. Ford attributed the positive results to significant improvements in its automotive operations, as well as cost reductions and special items. The company also confirmed it is exploring the sale of its Jaguar and Land Rover subsidiaries. Ford gained 3% in premarket trading.
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