DETROIT (Reuters) - Ford Motor Co (N:F) on Thursday reported a better-than-expected quarterly net profit, driven by sales of high-margin pickup trucks and SUVs in the U.S. market and cost cutting.
The second-largest U.S. automaker posted a quarterly net profit of $1.56 billion (£1.18 billion) or 39 cents per share, up more than 60 percent from 960 million or 24 cents per share a year earlier. Excluding one-time items Ford reported earnings per share of 43 cents, above the 32 cents per share that Wall Street analysts had expected.