Ford Motor Co's quarterly profit beat Wall Street expectations helped by higher prices and improved sales in North America.
In North America, Ford's pre-tax profit rose 0.5 per cent to $1.91 billion.
North America was the only global region where the company's profit improved. In Europe, where Ford's performance has been lagging in recent quarters, its pre-tax profit was trimmed nearly in half to $176 million.
Ford shares rose 2.3 per cent in early trading on Tuesday at $13.47 per share.
The company did not alter its North American production outlook or its 2011 US auto sales forecast.
Excluding one-time items, Ford's quarterly profit fell to 65 cents per share from 68 cents a year ago.
Analysts, on average, had expected earnings of 60 cents per share excluding one-time items, according to Thomson Reuters I/B/E/S.
Revenue rose 13 per cent to $35.5 billion.
Net income fell to $2.4 billion in the quarter, or 59 cents per share, from $2.6 billion, or 61 cents per share.
Source : New Age
