Monday, Jun 27, 2016
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Automotive

BUSINESS BRIEF

N. America, Asia nets are records for Ford

DEARBORN, Mich. — Ford Motor Co. reported better-than-expected earnings for the second quarter and raised its profit and sales forecasts for the year. Strong U.S. pickup truck demand and growing sales in China offset persistent but narrowing losses in Europe.

Ford’s stock rose 2.5 percent to close at $17.37 Wednesday, its highest close since Jan. 27, 2011.

Ford earned $1.23 billion in the April-June period, up 18.5 percent from a year ago.

The company’s results were propelled by a $2.3 billion profit in North America, a second-quarter record for that region.

Ford also reported a best-ever profit of $177 million in Asia.

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