Ford Hits $2.1 Billion In Profit Q1 2010

Posted Apr 27, 2010

Ford Motor Company (NYSE:F) has hit $2.1 billion in profit in Q1 of 2010, which is a $3.5 billion improvement from last year. Not too shabby Ford?

The numbers went up due to strong sales in new products and improvements in their global operations. “The Ford team around the world achieved another very solid quarter, and we are delivering profitable growth,” stated Ford President and CEO Alan Mulally. “Our plan is working, and the basic engine that drives our business results ? products, market share, revenue and cost structure ? is performing stronger each quarter, even as the economy and vehicle demand remain relatively soft.”

The sale of Volvo to Chinese company Zhejiang Geely Holding Group was excluded from the operating results. Revenues for the quarter were $28.1 billion.