Ford Motor Co. Shows Profit of $997 Million in Third Quarter

November 2, 2009

(ChattahBox) — Ford Motor Co., the only major US automaker to avoid bankruptcy, earned nearly $1 billion in the third quarter, fueled by less competition and the government’s Cash for Clunkers rebates.  The Dearborn, Michigan-based automaker on Monday reported net income of $997 million, or 29 cents per share, compared to a loss of $161 million, or 7 cents a share on that basis a year earlier. 

Overall, Ford reported a profit of $873 million, or 26 cents a share excluding special items, for the quarter. Analysts had been forecasting a loss of 12 cents a share for the quarter on this basis. Ford says it now expects to be “solidly profitable” in 2011. Previously the automaker said it would be break-even or better.
Shares of Ford, rose 50 cents, or 7.1 percent, to $7.50 in pre-market trading.

Source


Comments

3 Responses to “Ford Motor Co. Shows Profit of $997 Million in Third Quarter”

  1. Ryan on November 2nd, 2009 2:08 pm

    Independent of the reasoning, a monster quarter for Ford.

  2. erictheolson on November 2nd, 2009 2:11 pm

    A little kick back for their buyers of new vechicals would help me out!

  3. “Ford Posts $997m 3Q Profit” and related posts | Top USA News on November 2nd, 2009 11:20 pm

    […] Ford Motor Co. Shows Profit of $997 Million in Third Quarter – ChattahBox News Blog […]

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