Ford profit rises about 13%, sees Q3 uptick
By Steve Gelsi F
NEW YORK (MarketWatch) -- Ford Motor Co. /quotes/comstock/13*!f/quotes/nls/f (F 12.66, +0.57, +4.72%) said Friday its second-quarter net income rose to $2.6 billion, or 61 cents a share, from $2.3 billion, or 69 cents a share, in the year-ago period. Adjusted net income in the latest period totaled 68 cents a share. Revenue rose to $31.3 billion, from $26.8 billion. Excluding year-ago sales of its now-sold Volvo unit, revenue increased more than 30%. Wall Street analysts expected the auto giant to earn 40 cents a share, on revenue of $29.5 billion, according to a survey by FactSet Research. Ford expects third-quarter production to rise by 126,000 units from year-ago levels, "reflecting continued strong demand for Ford products, maintenance of competitive stock levels, and the non-recurrence of prior-year stock reductions."
marketwatch.com |
