Tuesday, 26 April 2011 at 15:35, Reuters, Detroit
Ford Motor Co reported its best first-quarter profit in 13 years, driven by strong sales in its home market and demand for more fuel efficient vehicles. Net income rose to $2.55 billion, or 61 cents a share, compared with $2.09 billion, or 50 cents a share, in the year earlier period. It was the highest first-quarter net income since 1998.
Excluding one-time items, it earned 62 cents a share, easily topping the 50 cents analysts polled by Thomson Reuters I/B/E/S had expected. It was the seventh straight quarter of operating profit. Revenue rose to $33.1bn from $28.1bn last year. Analysts had expected $29.7bn.
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