A new Ford Mustang car on display at the 50 years celebration ceremony of Ford Mustang in Beijing on April 19, 2014, ahead of the 'Auto China 2014' Beijing International Automotive Exhibition. STR/AFP/Getty Images

(Reuters) - Ford Motor Co's (NYSE:N) operating earnings for the second quarter beat Wall Street expectations as better-than-expected profit in North America and Europe countered weaker results than expected in Asia Pacific and South America.

Excluding one-time items, Ford showed a profit of $2.6 billion, or 40 cents per share, which topped the 36-cent-per-share forecast by analysts surveyed by Thomson Reuters I/B/E/S.
For the quarter, Ford's net income was $1.3 billion, or 32 cents per share, up from $1.23 billion, or 30 cents per share, a year earlier.
Ford set a record for operating profit in North America at $2.44 billion, and it showed its first profit in Europe in three years.
(Reporting by Bernie Woodall; Editing by Lisa Von Ahn)