Ford Posts 46% Jump in Profit

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.

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