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MONDAY, NOVEMBER 23, 2009
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 EARNINGS REPORT 
5

Ford Shocks Street With $2.3B Profit

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(Newser) – Ford surprised the markets today by posting a $2.3 billion quarterly profit, thanks mostly to debt restructuring actions, Reuters reports. The result beat estimates and represents Ford's first good quarter in more than a year; this time in 2008, the automaker lost $2.7 billion. But the global downturn that pushed Chrysler and GM to bankruptcy is still biting Ford—without the debt reduction the company would have posted a narrow loss.

Ford Motor Co. posted a surprise second-quarter profit of $2.3 billion, due mainly to a huge gain for debt reduction.
Ford Motor Co. posted a surprise second-quarter profit of $2.3 billion, due mainly to a huge gain for debt reduction.   (AP Photo/Paul Sancya, File)
The positive result comes after four consecutive quarters in the red.
The positive result comes after four consecutive quarters in the red.   (AP Photo/Eugene Hoshiko, File)
Ford has refused federal aid and has not filed for bankruptcy, unlike GM and Chrysler.
Ford has refused federal aid and has not filed for bankruptcy, unlike GM and Chrysler.   (AP Photo/David Zalubowski)
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5 comments
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TerrifiedCitizen
Jul 23, 09 7:22 AM CDT
Well wadda you know; Ford did have a better idea after all. Reply
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+3
Todd_English
Jul 23, 09 7:34 AM CDT
Good for them! Reply
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0
Yourself
Jul 23, 09 10:18 AM CDT
hard to believe concidering they put out the same junk as the other guys... Reply
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-1
IN RESPONSE:
awase61
Jul 23, 09 12:37 PM CDT
actually the quality of the entry level cars of the major manufacturers (Honda, Toyota, Ford, GM) have become very close in recent years. Ten years a go your comment would have been very correct, but go try out a ford today and I think you would be pleasantly surprised
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+2
kokuaguy
Jul 23, 09 1:50 PM CDT
Wasn't this worthy of mention in the summary of the story on the stock market reaching 9000? Reply
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