Ford Motor Co. (NYSE:F) actually made money in the second quarter, shocking Wall Street which had expected a loss. The automaker also confirmed media reports that may sell its Jaguar and Land Rover businesses.
The company made $750 million, or 31 cents per share, compared with a loss of $317 million, or 17 cents, a year earlier, its first profitable quarter in more than two years. Revenue rose 6% to $44.2 million. Wall Street had expected Ford to lose 35 cents on revenue of $37.5 billion. Click here for the earnings release, here for the Wall Street Journal story, and here for the Bloomberg News story.
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