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."