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.
Mike Obel assigns, edits and writes stories about business, markets, finance and economics. Before coming to International Business Times, he worked on the Finance Desk of...