Ford 2Q profit surges on strong revenue, earnings per share top estimates

DETROIT (AP) — Ford Motor Co.’s second-quarter profit surged to nearly three times more than a year ago to $1.92 billion on stronger sales and revenue.

Pretax losses at Model e, the company’s electric vehicle unit, increased to more than $1 billion, but they were offset by strong profits in the commercial and internal combustion vehicle businesses.

Ford Blue, the internal combustion unit, made $2.3 billion before taxes, while Ford Pro made $2.39 billion on commercial vehicles.

Excluding one-time items, Ford made 72 cents per share. That beat Wall Street estimates of 54 cents.

Revenue rose 12% to $44.95 billion, beating the $43.17 billion expected by analysts polled by FactSet.