Economy Doing So Badly That Ford Posts $2.1B Profit in 1st Quarter

Nope; the economy is still not turning around.


Don't look now, but people are kinda sorta spending money again. And, wouldn't you know it? They're buying American

Ford Motor Co. said Tuesday it earned $2.1 billion in the first quarter, another sign that the economy is improving as people spend more on big-ticket items like cars. The automaker expects to be solidly profitable this year, a year earlier than its previous guidance.

Ford said its net income per share was 50 cents during the quarter. That's an about-face from the same period last year when it lost $1.4 billion, or 60 cents per share, at the height of the recession. It was Ford's highest quarterly profit in six years.

The company was profitable in its key North American market, but it also made money in Asia, South America and Europe.

"The Ford team around the world achieved another very solid quarter, and we are delivering profitable growth," Ford CEO Alan Mulally said in a statement.