Ford posts 1.65 billion USD profit in Q3

Ford Motor Co. on Wednesday announced that its third-quarter earnings reached 1.65 billion U.S. dollars, or 41 cents per share, making it the 10th consecutive profitable quarter for the company. However, the earnings decreased by 38 million dollars, or two percent, from the same period of last year, and the results were also worse than last quarter's 2.4 billion dollars. The automaker earlier said that the cost of commodities and launch of new products could generate weaker results in the second half of the year than the first. Ford's CEO Alan Mulally said that the company delivered solid results for the third quarter despite an uncertain business environment. Meanwhile, the automaker's total revenue was up 14 percent to 33.1 billion dollars in the third quarter with the sales reaching 1.3 million vehicles. Besides, Ford's pretax operating profit totaled 1.3 billion dollars for the quarter, of which, 1.6 billion dollars were from North American operations while the company lost money in Europe, Asia Pacific and Africa.