Ford Nets €910 Million As European Loss Shrinks

Ford Motor Co.'s net profit climbed 19% to $1.2 billion (€910 million) in the second quarter of 2013, propelled by record earnings in Asia Pacific and North America.

Revenue rose 15% year on year to $38.1 billion (€28.9 billion). Global sales jumped 16% to 1.68 million vehicles.

Ford's pretax income surged 40% to $2.6 billion (€2 billion) in the April-June period as its business improved in all regions of the world.

The company boosted its 2013 outlook from matching last year's $8 billion (€6.1 billion) net profit to surpassing it. Ford also cut its projected loss in Europe this year to $1.8 billion (€1.4 billion) from its earlier forecast of a $2 billion (€1.5 billion) deficit.

That unit narrowed its pretax loss to $348 million (€264 million) in the second quarter from $404 million (€306 million) a year earlier. Revenue in the region advanced 7% to $7.6 million (€5.8 billion) on 9% growth in volume to 391,000 vehicles.

The company's North American operations hiked pretax earnings in the period by 16% to a record $2.3 billion (€1.7 billion) on soaring demand for pickup trucks. Revenue and unit sales each grew 14% to $22.4 billion (€17 billion) and 823,000 units, respectively.

In Asia Pacific, Ford swung to a record $177 million (€134 million) pretax profit in the latest quarter from a $66 million (€50 million) loss a year earlier. Revenue increased 30% to $3 billion (€2.3 billion). Sales rose 27% to 317,000 units.

South American operations posted pretax income of $151 million (€114 million) from April through June compared with $5 million (€4 million) in the same period of 2012. Revenue advanced 30% to $3 billion (€2.3 billion). Sales jumped 24% to 147,000 vehicles.