Ford's first quarter profit rises 15% to $1.6B
A worker assembles a vehicle on an assembly line at Ford factory in Chongqing, China last week. Ford beat Wall Street's forecast with earnings of 40 cents per share, up from 35 cents in the first quarter of 2012. (April 16, 2013) Credit: AP
Ford says net income rose 15 percent in the first quarter to $1.6 billion as record North American profits overcame weakness in Europe and South America.
Ford beat Wall Street's forecast with earnings of 40 cents per share, up from 35 cents in the first quarter of 2012. Analysts polled by FactSet had forecast earnings of 37 cents per share.
Without one-time charges, including restructuring costs in Europe, Ford would have earned 41 cents.
Revenue rose 10 percent to $35.8 billion, beating Wall Street's forecast of $33.5 billion.
