Ford releases quarterly results better than expected

DEARBORN, Michigan (Reuters) – On Tuesday Ford reported results better than expected for the second quarter.

Excluding items, earnings per share amounted to 65 cents against 68 cents a year ago. Analysts on average had forecast on this basis EPS of 60 cents, according to the consensus established by Thomson Reuters I / B / E / S.

In pre-market action is gaining 3.6% to 13.65 dollars.

Turnover was up 13% to $ 35.5 billion. The total net profit stood at 2.4 billion, or 59 cents a share, against 201 million in the second quarter 2010 (61 cents per share).

Ford now shows eight consecutive quarters of profit after posting $ 30 billion cumulative loss between 2006 and 2008, during which time the manufacturer had downsized, selling unprofitable brands and redesigned its line overloaded and other large 4×4 pick-up.

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