Ford Earnings Jump 19% in Second Quarter

Ford Motor Co.'s net profit climbed to $1.2 billion in the second quarter of 2013 from $1 billion a year earlier, propelled by record earnings in Asia Pacific and North America.

Revenue rose 15% to $38.1 billion in the April-June period. Global sales jumped 16% to 1.68 million vehicles.

The company's pretax income surged 40% year over year to $2.6 billion as its business improved in all regions of the world.

Ford boosted its full-year outlook from matching last year's $8 billion net profit to surpassing it.

In the April-June period, the company's North American operations hiked pretax income 16% to a record $2.3 billion on soaring demand for pickup trucks. The unit's revenue and sales each increased 14% to $22.4 billion and 823,000 units, respectively.

In Asia Pacific, Ford swung to a record $177 million pretax profit in the second quarter from a $66 million loss a year earlier, thanks largely to growth in China. Regional revenue climbed 30% to $3 billion. Sales rose 27% to 317,000 units, boosting the company's Asia-Pacific market share 1 point to 3.6%.

Ford narrowed its pretax loss in Europe to $348 million in the second quarter from $404 million in the same period of 2012. Revenue advanced 7% to $7.6 million on 9% growth in volume to 391,000 vehicles. The company cut its projected 2013 loss in the region by $200 million to an estimated $1.8 billion.

South American operations posted pretax earnings of $151 million from April through June compared with $5 million in the same period of 2012. Revenue jumped 30% to $3 billion. Sales expanded 24% to 147,000 vehicles.