By Christina Rogers
Ford Motor Co. reported a 46% jump in net income for the second
quarter with North America recording its largest quarterly profit
ever and profit margins rising in Asia Pacific.
The Dearborn, Mich., auto maker said Tuesday it earned $1.9
billion in net profits during the quarter, a sharp increase from
the $1.3 billion it made over the same three-month period a year
ago, as its performance in North America rebounded after a sluggish
first quarter.
Revenue was nearly flat, down less than a percentage point over
the prior-year period and world-wide sales were up 2% with the
company selling more cars in North America and Europe than it did a
year earlier. Ford reported pretax profit of $2.9 billion, up from
$2.6 billion a year earlier.
The No. 2 U.S. auto maker beat analyst expectations by 10 cents,
reporting earnings per share of 47 cents, as operating margins rose
to 11.1% in North America and 7.8% in Asia Pacific.
Write to Christina Rogers at christina.rogers@wsj.com
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