Franchise News

Ford Reports Quarterly Profit Of $2.6 Billion In North America

Jul 28, 2015 11:53 PM EDT | By Michael Smith

Ford Motor Co. officials have reported a quarterly profit of $2.6 Billion from North America, the Associated Press reports. 

"We are now more confident than ever that we will deliver a breakthrough year," Ford Chief Financial Officer Mark Fields said on a conference call with analysts, according to the site. 

The automaker's net income increased 44 percent to $1.9 billion during the same fiscal quarter, given a rise in global sales. The company's flagship F-150 pickup truck is reported to have been its bestselling vehicle. 

Ford is slated to raise up to $9.5 billion in pretax profits for fiscal year 2015. Following news of the automaker's favorable second-quarter results, shares of the company's stock boosted by one percent to $14.76.

The staple American brand has seen some of its biggest expansion in the Asia-Pacific region, as it made approximately $192 million in that geographic area. 

"The reality is China is still the biggest market in the world, and in our view, it will continue to grow as we get to the end of the decade," Ford Chief Financial Officer Bob Shanks told the Wall Street Journal

Ford currently holds 4.6 share of sales in China. 

The company was founded in 1903 in Dearborn, Michigan. 

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