Ford's Q4 profit higher than forecasts; revenue up 4 pct.
January 29, 2014, 12:08 am TWN
DEARBORN, Michigan--The Michigan-based automaker earned US$3 billion, or 74 cents per share, in the fourth quarter of 2013, but that was largely because of a one-time tax gain. Excluding the gain, net income was 31 cents per share, topping analysts' forecast of 27 cents, according to FactSet.
On a pretax basis, Ford earned US$1.3 billion, down US$402 million from a year ago.
Fourth-quarter revenue rose 3.5 percent to US$37.6 billion.