Dearborn— The bulk of Ford Motor Co.’s second-quarter profits once again came from North America, but financial results in other regions have Ford executives the most excited.
The Dearborn automaker beat analysts’ expectations as profits rose to $1.23 billion during the second quarter, the company said Wednesday. Abroad, Ford nearly broke even, despite a tumultuous European market, high infrastructure costs in Asia and unfavorable exchange rates in South America.
“The question for Ford has been, ‘Can this really be looked at as a full-fledged turnaround with only one region going so well?’” said Itay Michaeli, analyst at Citi Investment Research, in a telephone interview. “This is huge because the criticism from the investment perspective is that Ford has only made money in one region.”