Ford 4Q profit beats forecasts; revenue up 4 pct. - Fox 2 News Headlines

Ford 4Q profit beats forecasts; revenue up 4 pct.

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DEARBORN, Mich. (AP) -- Ford Motor Co. beat Wall Street's forecasts for fourth-quarter and full-year profits thanks to record results in North America and Asia.

The Dearborn, Mich.-based automaker earned $3 billion, or 74 cents per share, in the fourth quarter of 2013, but that was largely because of a one-time tax gain. Excluding the gain, net income was 31 cents per share, topping analysts' forecast of 27 cents, according to FactSet.

On a pretax basis, Ford earned $1.3 billion, down $402 million from a year ago.

Fourth-quarter revenue rose 3.5 percent to $37.6 billion.

For the full year, Ford earned $7.2 billion, or $1.76 per share. Without one-time items, including a pension buyout, the company earned $8.56 billion, or $1.62 per share, beating analysts' forecasts.

Full-year revenue rose 10 percent to $146.9 billion.

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