DETROIT: Ford Motor Co boosted its full-year global profit outlook yesterday, as its European picture brightened and stronger overseas operations sparked better-than-expected third-quarter results.
The No. 2 US carmaker now expects 2013 pretax profit to top last year’s $8bn and sees losing less money in Europe than in 2012. Ford narrowed its losses in Europe to $228m in the quarter from $468m a year ago.
Third-quarter net income fell by a little more than one-fifth to $1.27bn, or 31 cents per share, due to nearly $500m in special charges, including $250m spent on restructuring Europe.
Reuters
