Financial Report Financial reports from the largest companies of the world

Ford reported 1.7 billions USD profit

The U.S. carmaker Ford reported a profit of 1,7 billion dollars for the third quarter, the sixth consecutive quarter with positive financial results. Earnings per share was 43 cents, which is a significant increase compared to earnings of 29 cents per share achieved for the same period last year. As the exclusion of certain one-off effects, profit, Ford is 48 cents a share, well above analysts' expectations of 38 cents per share. Revenues of the American company, without taking into account the results of Volvo Cars, amounted to 30.7 billion dollars. Due to the improved financial condition by Ford have paid a credit line of $ 2 billion. The company also announced that this week will be paid 3.6 billion dollars to cover commitments associated with health insurance for employees. The company reduced debt by 27.3 billion dollars at the end of the second quarter to 22.8 billion dollars to 30th September. The company repaid its Loans got in the beginning of the financial crisis, and now feel the recovery of the economy and good business conditions.
The financial profit was mostly because of reducing expenses and increasing the sales in Asia and Europe.