A Boom in China Helps Ford to Record Profits
Ford reported a record third-quarter profit this past week. The automaker earned $0.45 a share before taxes and special items, a number that blew away Wall Street estimates, as all of Ford's global regions delivered solid results.
Ford's Asia Pacific Africa region made a profit of $126 million, up $81 million from a year ago. The big story there is China, where Ford's sales growth has been stunning. Ford's sales in China are up more than 50% so far in 2013.
Fool contributor John Rosevear spoke with Ford's chief financial officer, Bob Shanks, shortly after the company's earnings were released on Thursday. In this video, he dives deeper into Ford's third-quarter results in the region, explaining the high points -- as well as the areas where Ford says it still has work to do.
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The article A Boom in China Helps Ford to Record Profits originally appeared on Fool.com.Fool contributor John Rosevear owns shares of Ford and General Motors. You can connect with him on Twitter at @jrosevear. The Motley Fool recommends Ford and General Motors and owns shares of Ford. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.