Ford beats estimates despite declines in earnings, revenue
Source: AP-Excite
By DEE-ANN DURBIN
DEARBORN, Mich. (AP) — Ford's net income tumbled in the fourth quarter as the company took an expected charge to deal with its struggling Venezuelan operations.
But without the charge and other one-time items, Ford came out ahead of Wall Street's expectations for the fourth quarter and the full year.
Its shares rose 2 percent in premarket trading about an hour before the market open.
Ford's net income fell to $52 million in the fourth quarter, largely due to an $800 million charge because of Venezuelan currency controls and constraints on what in can build and sell in the country. Ford announced last week that it would remove its Venezuelan operations from its financial reporting in future quarters.
FULL story at link.
In this photo taken Monday, Jan. 5, 2015, the Ford logo shines on the front grille of a 2014 Ford F-150, on display at a local dealership in Hialeah, Fla. Ford's net income tumbled in the fourth quarter as the company took an expected charge to deal with currency devaluation at its Venezuelan operations, the company announced, Thursday, Jan. 29, 2015. But without that loss and other one-time items, Ford came out ahead of Wall Street's expectations for the fourth quarter and the full year. (AP Photo/Alan Diaz)
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