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Ford Surprises With $100M Q1 Profit

Cost cutting offsets weak sales in US for world's No. 3 automaker
By Jim O'Neill,  Newser Staff
Posted Apr 24, 2008 7:28 AM CDT
Ford Surprises With $100M Q1 Profit
Unsold 2008 F-150 pickup trucks sit at a Ford dealership in the south Denver suburb of Littleton, Colo.   (AP Photo/David Zalubowski)

(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. 

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

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