Despite struggles in Europe, Ford Motor says its fourth-quarter profit was $1.7 billion before taxes, the most in the fourth quarter for more than a decade. And it marked Ford's 14th consecutive profitable quarter. It amounted to 31 cents a share, beating Wall Street forecasts, which ranged from 25 cents to 28 cents.
Net quarterly earnings after taxes were $1.24 billion. Europe continues to bleed money, posting a quarterly loss of $732 million and a full-year loss of $1.73 billion. Ford CFO Bob Shanks said the company will lose $2 billion in Europe this year, but that should be the bottom, and new-model introductions should start a loss-reducing comeback.
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