Ford's 1Q Sets Records for Profit, Operating Margins

Ford Motor reported a 113 percent rise in net income and company records for global and North American operating margins.

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Ford's net income was $2.45 billion, or 61 cents per diluted share, versus $1.3 billion or 29 cents per diluted share a year ago.

Excluding one-time items, Ford's earnings per share of 68 cents easily beat Wall Street expectations of 48 cents per share.

(Reporting by Bernie Woodall)