Ford Motor Q2 profit rises to $2.04 bn on lower tax rate

Ford. Photo: Reuters

Ford Motor Co on Wednesday reported a higher quarterly net profit that beat expectations because of a lower effective tax rate than the same period a year earlier and increased sales of more profitable pickup trucks in the US market.

The Dearborn, Michigan-based company reported second-quarter net income of $2.04 billion, or 51 cents per share, up from just under $2 billion, or 49 cents per share, a year earlier. Excluding one-time items, the No. 2 U.S. automaker reported earnings per share of 56 cents, and on that basis analysts, on average, looked for 43 cents.

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