Ford reports Second-Quarter Profit of $2.6 Billion
Ford reports Second-Quarter Profit of $2.6 Billion
With a second-quarter net income of $2.6 billion, Ford Motor Co. reports one of the most profitable first half in more than a decade.
Earning $4.7 billion in the year’s first six months, this is Ford’s largest first-half profit since 1998.
CEO Alan Mulally made a smart move by redesigning cars such as the Taurus and Fusion, and adding extras like heated leather seats and voice-activated electronics.
The shares rose 46 cents, or 3.8 percent, to $12.55 at 7:41 a.m., before the regular opening of New York Stock Exchange trading.
Ford said they will have a positive automotive net cash position by the end of 2011.
“We remain on track to deliver solid profits and positive automotive operating-related cash flow for 2010, and we expect even better financial results in 2011,” Mulally stated.
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Posted by BenjaminDourden on Jul 23 2010 Filed under Autos. You can follow any responses to this entry through the . You can leave a response or trackback to this entry
