Ford Surprises With $100M Q1 Profit

Cost cutting offsets weak sales in US for world's No. 3 automaker
By Jim O'Neill,  Newser User
Posted Apr 24, 2008 7:28 AM CDT
Unsold 2008 F-150 pickup trucks sit at a Ford dealership in the south Denver suburb of Littleton, Colo.   (AP Photo/David Zalubowski)
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(Newser) – Ford today posted an unexpected first-quarter profit of $100 million, Bloomberg reports, the result of cost cutting in North America and strong overseas sales. Analysts had anticipated a loss on the order of last year's first-quarter drain of $282 million. The world’s third-largest automaker said its revenues increased 1.2% to $43.5 billion. It was only the second quarterly profit for the company in the past two years. 

"There are signs of progress that Ford just may, in fact, be fixable," an analyst tells Bloomberg.