Ford Posts $2.3 Billion PROFIT for Second Quarter

Ford Motor Co. posted a surprise profit of $2.3 billion for the second quarter -- a sharp contrast to the whopping $8.7 billion loss it reported for the same period a year ago -- but the profit was largely due to one-time gains related to its debt reduction moves.

Even with those special items removed, the Dearborn automaker surprised Wall Street with a pre-tax operating loss of $424 million for the second quarter of 2009, excluding special items -- a $609 million improvement compared with the second quarter of 2008.

After taxes and excluding special items, Ford posted an operating loss of $638 million in the second quarter, or 21 cents per share, compared with a loss of $1.4 billion, 63 cents per share a year ago. That also was a marked improvement over the $1.4 billion loss -- $1.8 billion after taxes and excluding special items -- that Ford reported for the first three months of the year, when it lost 75 cents per share


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Caraficionado - 7/23/2009 12:35:15 PM

+5 Boost

Good job Ford. Also, the Fusion is a good looking car.

theoptimisticpessimist - 7/23/2009 1:59:12 PM

+3 Boost

Congrats Ford!

Obliv - 7/23/2009 2:30:01 PM

+4 Boost

Keep on the lookout for Ford here in the comming years. Theyre going to be suprising alot of people.

inspirion7 - 7/23/2009 3:46:18 PM

+2 Boost

yah!

veyron1001 - 7/23/2009 4:12:29 PM

0 Boost

It is NOT PROFIT as ford is paying off its debt.

bfghemicuda - 7/23/2009 6:55:09 PM

+3 Boost

If I remember correctly, You have to make a profitt to pay off debt.