Amazing how a company can succeed and make a profit without government bailout money, unlike GM who is losing money and causing taxpayers to lose at least $25 billion.
From Detroit Free Press:
Ford reported a $1.6 billion third-quarter net income as its best-ever quarterly results in North America more than offset continuing losses in Europe.
Revenue was $32.1 billion for the quarter.
Pretax profits of $2.3 billion in North America more than made up for a $468 million pretax loss in Europe. Other regions were all in the black.
The earnings per share of 40 cents beat the street’s expectations of 30 cents and year-ago’s 34 cents.
“This is the third quarter in a row where we earned over $2 billion and had an operating margin over 10%,” said Chief Financial Officer Bob Shanks. It shows a consistency the company wants to maintain but the fourth quarter will not be as strong because the end of the year traditionally has higher manufacturing, engineering and marketing costs.