Higher Commodity Costs Send Ford Profits Down

July 26, 2011
Revenue was $35.5 billion in the April-June period, up 13% from the second quarter of 2010.

Ford reported that second-quarter profit fell 8% to $2.4 billion from a year ago.

The second-largest U.S. automaker said that it had earnings per share of 65 cents, excluding special items, topping analysts' estimate of 60 cents.

Revenue was $35.5 billion in the April-June period, up 13% from the second quarter of 2010.

It was the ninth consecutive quarterly profit for Ford.

"We delivered very good second-quarter results while growing the business globally and serving more customers in every region," said CEO Alan Mulally.

The company said it continued to focus on investing for the future, but reiterated a warning that it expects "second-half results will be lower than first half."

"This reflects increasing commodities and structural costs, as well as seasonal factors that tend to favor the first half," the company said.

Copyright Agence France-Presse, 2011

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