Ford increases full-year guidance after strong 3Q
DEARBORN, Mich. (AP) -- Ford is raising its full-year profit guidance after a record third quarter that saw improving sales worldwide.
Ford earned $1.3 billion, or 31 cents per share, down 14 percent from a year ago.
But without one-time items, including a $250 million charge for restructuring in Europe, Ford Motor Co. reported a pretax profit of $2.6 billion, or 45 cents per share. That was a record for the third quarter.
Revenue rose 12 percent to $36 billion.
Ford beat Wall Street's expectations. Analysts polled by FactSet forecast earnings of 37 cents on revenue of $33.6 billion.
Ford previously said it expected its full-year pretax profit to be equal to or higher than its $8 billion profit in 2012. Now it expects to exceed that. Ford also expects lower European losses.
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