Ford Drives Better Earnings

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published

Wonder of wonders. Ford (F) had and increase of revenue from $40.8 billion in the first quarter a year ago to $43 billion this year. The company’s loss fell to $282 million from $1.4 billion a year ago. And, the company said its cost cutting is working.

Some highlights:

Cost savings of $500 million, $400 million of which was associated with North America –

bringing total cumulative cost savings to $1.9 billion toward the 2008 target of reducingannual operating costs by $5 billion compared with 2005.

Ford Europe pre-tax profits of $219 million, an increase of $154 million compared with a year ago.

Premier Automotive Group (PAG): PAG reported a record pre-tax profit of $402 million for the first quarter, compared with a pre-tax profit of $152 million for the same period in 2006.

Traders went bonkers sending the stock up 10% in pre-market trading to $8.65.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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