Ford’s (F) share are trading up 5%. The company had an outstanding quarter.
The car company reported net income of $100 million, or 5 cents per share, for the first quarter of 2008. This compares with a net loss of $282 million, or 15 cents per share, in the first quarter of 2007.
Ford’s first quarter revenue, excluding special items, was $39.4 billion, down from $43 billion a year ago. Adjusted to exclude Jaguar Land Rover and Aston Martin from 2007 results, revenue would have been up slightly/
For the first quarter of 2008, Ford’s worldwide Automotive sector reported a pre-tax profit of $669 million, compared with a pre-tax loss of $226 million during the same period a year ago.
North America Automotive operations reported a pre-tax loss of $45 million, compared with a loss of $613 million a year ago. The improvement reflected cost reductions of $1.2 billion,
Ford’s South America operations posted a pre-tax profit of $257 million, up from $113 million a year ago. The improvement reflected higher net pricing
Ford Europe pre-tax profits were $739 million, up from $219 million a year ago. The improvement was primarily explained by favorable cost performance
Asia Pacific Africa reported a pre-tax profit of $1 million, compared with a pre-tax loss of $26 million a year ago. The improvement primarily reflected favorable cost performance and higher profits in China
Much better than anyone could have hoped for.
Douglas A. McIntyre
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
