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Ford Earnings Exceed Expectations

Increase aided by improvements in Europe, North America.

by on Apr.26, 2011

"World cars," like the Fiesta, helped drive Ford earnings beyond analysts' expectations.

After disappointing analysts during the final months of 2010, Ford Motor Co. has delivered another surprise – but this time it has well exceeded even the more optimistic forecasts for the first quarter of the New Year, posting $2.6 billion in net income.

That’s a 22.4% year-over-year bump, and works out to 61 cents a share compared to a consensus forecast by a score of Wall Street analysts that Ford’s first-quarter 2011 earnings would come in at a still-respectable 50 cents a share.  During the same period in 2010, Ford earned $2.1 billion, or 46 cents a share.

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All told, the maker had its largest earnings for the January – March quarter since 1998.

“Our team delivered a great quarter, with solid growth and improvements in all regions,” said Ford president and CEO Alan Mulally.

Ford’s revenues jumped 18% in the latest quarter, from $28.1 billion to $33.1 billion.  That reflected strong sales in a number of key markets, notably including Europe, where the maker was able to climb out of the red.