Ford Posts Better-Than-Expected Q3 Profit [View all]
Ford posts better-than-expected Q3 profit
DETROIT | Tue Oct 30, 2012 7:05am EDT
(Reuters) - Ford Motor Co on Tuesday reported a better-than-expected profit for the third quarter on the strength of higher vehicle prices and lower costs in North America.
The second-largest U.S. automaker reported an operating profit of $2.2 billion, or 40 cents per share, up from $1.9 billion or 34 cents per share a year earlier.
The average Wall Street estimate called for Ford to make 30 cents per share, according to Thomson Reuters I/B/E/S.
Third quarter net income was $1.63 billion or 41 cents a share. Revenue fell 3 percent to $32.1 billion, better than the $30.9 billion expected by analysts.