Ford Motor Company (NYSE:F) reported a third-quarter profit that topped Wall Street's expectations as a strong performance from the No. 2 U.S. carmaker's North American unit offset higher taxes and European losses.
Net income was $1.63 billion, or 41 cents a share, compared with $1.65 billion, or 41 cents, a year earlier. Excluding one-time gains and losses, earnings per share were 40 cents a share. Analysts surveyed by Bloomberg News expected, on average, 30 cents per share.
Revenue slipped from $33.1 billion to $32.1 billion.
The Dearborn, Mich.-based company said this was its "best-ever third quarter total company and Automotive pre-tax profit, driven by record North American results."
Mike Obel works as Senior Editor, Copy Chief. Before that he was Markets Editor, assigning, editing and writing about business, markets, finance and economics. Before coming...