The Ford Motor Company (NYSE:F), the No. 2 U.S. carmaker, said Thursday its third-quarter profit fell 22 percent to $1.27 billion, but it still beat Wall Street expectations as demand for its Focus compact car and F-150 pickup truck soared.
The Dearborn, Mich.-based company said its pretax profit was 45 cents per share, better than the 38 cents per share analysts polled by Thomson Reuters expected. Revenue rose 12 percent to $36 billion
Ford, which incurred charges for buying out salaried worker pension benefits and for a one-time charge of $345 million for closing European plants, raised its outlook for its total company operating margin and pretax profits for all of 2013.