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Ford profit tops expectations

Dearborn - Ford Motor reported a profit that beat Wall Street expectations. 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.

Revenue rose 13% to $35.5bn.

Net income of $2.4bn in the quarter, or 59 cents per share, was down $201m from a year ago when per-share net income was 61 cents per share.

Ford has now posted eight straight quarterly net profits after recording net losses totaling $30bn from 2006 through 2008 when it cut jobs, sold unprofitable brands and reshaped a lineup laden with large SUVs and pickup trucks.
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