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Ford's 4Q Profit Jumps to $13.6B Due to Special Items
Updated: Friday, 27 Jan 2012, 9:05 AM EST
Published : Friday, 27 Jan 2012, 7:11 AM EST
By: MarketWatch
DEARBORN, Mich. - Ford on Friday reported its fourth-quarter net income jumped due to special items, while operating profit lagged analyst estimates.
Profit was $13.62 billion, or $3.40 a share, compared with $190 million, or five cents, in the year-earlier period.
Earnings from operations were 20 cents a share versus 30 cents the prior year. Revenue reached $34.6 billion from $32.5 billion.
A survey of analysts by FactSet Research produced consensus estimates of 25 cents a share of profit on $32.61 billion of revenue.
Automotive pretax operating profit fell to $586 million from $741 million a year earlier due to higher costs of commodities and compensation plus unfavorable currency translations, partly offset by better pricing, volume and product mix, Ford said in a statement.
SOURCE LINK: www.marketwatch.com
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