Ford Profit Slips as North America Counters Europe
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Ford Motor Co., the second-largest U.S. automaker, said third-quarter profit exceeded estimates, slipping 1.1 percent, as its North America unit delivered record earnings that made up for higher taxes and losses in Europe.
Ford reported its 14th consecutive profitable quarter, with net income of $1.63 billion, or 41 cents a share, compared with $1.65 billion, or 41 cents, a year earlier. Excluding one-time items, the profit was 40 cents a share, exceeding the 30-cent average estimate of 19 analysts surveyed by Bloomberg.