Business

Ford: $13.4B profit in 4Q on accounting charge

Posted January 26, 2012 10:00 pm

Associated Press

DEARBORN, Michigan — Ford says it made $13.4 billion in the fourth quarter, largely due to an accounting change.

Without the gain, Ford Motor Co. earned $1.1 billion, or 20 cents per share, falling short of Wall Street's expectations. Analysts polled by FactSet forecast earnings of 25 cents per share. Ford earned 5 cents per share in the same quarter a year ago.

Quarterly revenue rose 6 percent to $34.6 billion.

It was Ford's 11th straight quarterly profit. The company recorded a big one-time gain after moving deferred tax assets back onto its books.

For the full year, the U.S.-based company made $20.2 billion, or $4.94 per share. Without the accounting gain, Ford earned $8.8 billion, or $1.51 per share, its highest operating profit since 1999. Full year revenue was $136.3 billion.

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