Ford surprises in 2Q as net income jumps 44 pct; record North American profit

AUTOAssociated Press

Ford Motor Co.'s net income jumped 44 percent to $1.9 billion in the second quarter as the company was able to charge more for new SUVs with premium features.

The profit of 47 cents per share compared with a profit of 40 cents per share a year ago. That beat Wall Street's expectations of a 37-cent profit for the April-June period, according to analysts polled by FactSet.

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Ford's global sales rose 2 percent during the quarter to nearly 1.7 million. Sales were up in North America and Europe but fell in South America, the Middle East and Asia.

Revenue fell slightly to $37.3 billion, hurt by the strong U.S. dollar. That beat analysts' expectations of $35.5 billion.

Ford earned a record profit of $2.6 billion in North America.