Ford reported a second quarter profit of $2.6 billion today, marking the automaker’s best quarterly performance in six years and easily beating Wall Street expectations.
The net income is 15% higher than the company’s profit for the same three months last year when it reported a net income of $2.3 billion that was aided by one time gains from a debt exchange.
Before one-time adjustments, Ford reported earnings per share of 68 cents, or $2.7 billion for the three months ending June 30.
Analysts, on average, expected a quarterly profit of 41 cents a share from based on 12 estimates collected by Bloomberg News. For the same period last year Ford had an operating loss of $638 million, or 21 cents a share, a year earlier, excluding a gain from debt reductions.
Ford said its revenue for the second quarter increased to $31.1 million, up from $26.8 million for the same period last year.
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