Ford Motor Co. net income rises by $100 million to $2 billion on the strength of a more favorable tax rate. Gross revenue is up $400 million to $39.9 billion.
Pre-tax profits of $ 2.2 billion are down from the year before.
Ford’s effective global tax rate during the second quarter was 10%, much lower than the 30% expected tax rate for the year. Ford’s tax rate was lower because of a change in how the company records some of its prior losses on assets from overseas operations.
North America was the only region where Ford reported a big profit.
Ford’s earnings of 56 cents per share beat Wall Street expectations.
