Ford Profit: $6.6 Billion |
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| Topics: Ford Motor Company
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VOA Breaking News
January 28, 2011 at 2:05 pm
The Ford Motor Company posted its largest annual profit in more than a decade on Friday.
The second-largest U.S.-based auto manufacturer earned $6.6 billion in 2010, which is more than double its profit in the prior year.
The improving economy boosted demand for Ford pickup trucks and other vehicles.
The news about the annual profit was tempered by a drop in its per-share profit in the last few months of 2010. The company posted earnings of five cents a share for the fourth quarter, which was a sharp drop from the same three-month period a year earlier.
The fourth quarter results were lower than many Wall Street analysts had predicted because Ford lost money on its European operations, and paid down hundreds of millions of dollars in debt.