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Ford reports surprise second-quarter profit
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Contributor | RP |
Last Edited | RP Jul 23, 2009 12:11pm |
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Category | Announcement |
News Date | Thursday, July 23, 2009 05:40:00 PM UTC0:0 |
Description | Helped by a lightened debt load, Ford Motor Co. posted a surprise second-quarter profit of $2.3 billion Thursday, following the worst loss in company history a year earlier.
The net profit ends a string of four straight quarterly losses for the nation’s second-largest automaker, which has gained U.S. market share at the expense of crosstown rivals Chrysler Group LLC and General Motors Co., both of which spent time under bankruptcy court supervision. Ford last went into the black in the first quarter of 2008, with net profit of $70 million. |
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