Ford’s 2015 profit jumps on stronger sales

FILE - In this Monday, Jan. 5, 2015, file photo, the Ford logo shines on the front grille of a 2014 Ford F-150, on display at a local dealership in Hialeah, Fla. The United Auto Workers' proposed contract with Ford Motor Co. — approved Monday, Nov. 9, 2015, by local union leaders — is the richest of the Detroit Three. (AP Photo/Alan Diaz, File)
FILE - In this Monday, Jan. 5, 2015, file photo, the Ford logo shines on the front grille of a 2014 Ford F-150, on display at a local dealership in Hialeah, Fla. (AP Photo/Alan Diaz, File)

DEARBORN, Mich. (AP) – Ford Motor Co.’s net income jumped to $7.4 billion last year as its U.S. sales reached their highest level in a decade.

The profit, of $1.84 per share, of was six times higher than Ford’s results the previous year and beat Wall Street’s forecast. Analysts polled by FactSet were expecting full-year earnings of $1.73 per share.

Ford’s revenue rose 4 percent to $149.6 billion for the year, also beating forecasts.

Global sales rose 5 percent to 6.6 million for the year.

North America drove Ford’s results, with a pretax profit of $9.3 billion. But Ford also achieved a record pretax profit of $765 million in its Asia Pacific region and returned to profitability in Europe for the first time since 2011.

Fourth-quarter net profit more than doubled to $1.9 billion.

(Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

WKBN 27 First News provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. No links will be permitted. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s