Ford Profits Surge 22% in Q1

Business gaining traction from growth in both volume and per-unit net revenue

Ford said on April 26 that despite higher commodity prices its first-quarter profit jumped 22% from a year ago.

Ford reported $2.55 billion profit for the first three months of the year "as fuel-efficient new products, continued investment in global growth and the strengthening of Ford's core business boosted results."

Earnings per share of 61 cents were up 22% from the same period in 2010.

Ford said its automotive business is gaining traction from growth in both volume and per-unit net revenue.

"This revenue growth, along with scale benefits from increasing volume, are driving improvements in profitability and operating margin -- despite higher commodity costs and planned cost increases associated with the investments Ford is making in its products, brand and future growth," the Dearborn, Michigan-based firm said.

"Our team delivered a great quarter, with solid growth and improvements in all regions," Ford chief executive Alan Mulally said.

Copyright Agence France-Presse, 2011

See Also
Ford's Sales Up 14% in U.S.

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