Ford leads the charge with a blowout 1st quarter

From the Detroit Free Press:

Ford earned $2.6 billion in the first three months of 2011, a 22.4% improvement over a year earlier, as U.S. sales increased on the strength of small and midsize cars and cost-cutting in Europe resulted in a modest operating profit.

The Dearborn automaker’s net income of 61 cents per share beat the 50 cents per share consensus forecast of about 20 Wall Street analysts and marked Ford’s most profitable first-quarter in 13 years. In 2010’s first quarter Ford made $2.1 billion, or 46 cents per share.

Revenue increased 18% to $33.1 billion from $28.1 billion a year earlier.

“Our team delivered a great quarter, with solid growth and improvements in all regions,” said Alan Mulally, Ford president and CEO.

Read the full article.


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