The Richest Woman in the World: How Gina Rinehart Earns her Billions
Why Dell Will Never Be Great Again
Shares of Ford Motor Co. (NYSE: F) are soaring today after the automaker reported the best kind of earnings -- an unexpected profit.The automaker earned $100 million, or 5 cents a share, compared with a loss of $282 million, or 15 cents, a year earlier. Wall Street had expected the company to lose money. Revenue was $43.5 billion, up slightly from a year earlier. Excluding discontinued operations and one-time items, profit was $525 million, or 20 cents.
"The results of this quarter are encouraging, particularly our outstanding performance in Europe and South America," said CEO Alan Mulally in the earnings release. "We believe this is an indication that our
efforts to leverage Ford's global assets across the world will bear fruit."
Cost cutting certainly helped. The company's North American Automotive business had a pre-tax loss of $45 million, down from $613 million a year earlier, as it slashed $1.2 billion in costs. But that's still not enough, and the company knows it. More layoffs are looming, according to the Detroit Free Press.
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
