GMO Global - Ford's 3Q Profit Beats Expectations.


GMO Global - Ford has announced a record third quarter with earnings of $2.2 billion.

Los Angeles (I-Newswire) November 29, 2012 - An announcement by GMO Global to investors at a meeting reportedly noted that Ford Motor Co. saw an over 8% jump in share price after announcing earnings of 40 cents per share. The Michigan company was able to overcome growing losses in Europe with a strong domestic performance.

Ford's European unit saw pre tax losses of $406 million, compared to losses of $306 million for the same period of the previous year. Ford's forecast for the total loss for it's European unit is $1.5 billion, with a similar forecast for next year. Ford is planning to cut 13% of its European workforce, amounting to some 6,200 employees.

This was overcome with North american revenues of $6.5 billion for the quarter, which is larger than the entire revenues of the previous year. GMO Global allegedly remarked that a spokesman for Ford credited the jump in revenue on its strong lineup of vehicles and brisk sales.

South American sales were less impressive with pre-tax earnings of $9 million. This is considerably less however than the $276 million for the same period of the previous year. Asian sales were also strong, with earnings of $45 million comparing favorable with the $43 million loss for the third quarter of last year.

GMO Global appear to believe that the largest US auto manufacturer, General Motors, saw their share price climb 9.5% after exceeding general market estimates. Leaving one time items, GM's earnings were 93 cents per share. It was that largest gain in share price by GM since their 2010 IPO.






About Media Beyond

Media Beyond helps you identify your news worthy message to achieve your optimal potential, share yo   More..ur message with people everywhere, create expert status and enjoy success!Less..

Contact Information

Media Beyond
Martha Kearns
3320 Oakway Lane
Los Angeles, California
90017
Phone : 818-338-3544

Tags:

GMO Global   GMOGlobal  

Published in:

Business

Published On:

November 29, 2012

Print Release:

Print Release

If you have questions regarding information in this press release contact the company listed above. I-Newswire.com is a press release service and not the author of this press release.The information that is on or available through this site is for informational purposes only and speaks only as of the particular date or dates of that information. As some companies and PR Agencies submit their press releases once per week,month or quarter, make sure to check the official company website for accurate release dates as our site displays the I-Newswire.com press release distribution date only.We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for or omissions in that information or for actions taken in reliance on that information.


Related Releases

South Africa Investment Forum 2014 JumpStarts Nelson Mandela's Vision with EZ-XPO
eZ-Xpo in partnership with SOSA-2030 who are the supporters of the South African Investment Forum 2030 (SAIF 2030) sponsored by ICON Business magazine will launch the World's 1st global forum to follow Nelson Mandela's dream by reigniting a global c

The Latest Version To EzPaycheck 2014 Includes Form 941 Update For Business Owners
Payroll software developer halfpricesoft.com released new ezPaycheck payroll software with 2014 tax tables and tax forms. Employers that need to file form 941 in time can test drive at www.halfpricesoft.com

Custom Yard Signs with H-Wire
MBK Media Group proud themselves on being to offer the latest and greatest in print and design work.

Spencer & Barnes Ltd. Is a Partner of the FXIC 2014 Exhibition in New York City
Spencer & Barnes Ltd. today announced that they will be sponsoring the FXIC NYC 2014 (www.fxic.com), a global foreign exchange industry conference. The event will be on the 20th of June 2014 at the Grand Hyatt in New York City.

Bringing Celebrated Coaches and Speakers Together, District 30 Toastmasters Sets the Stage for Spring Conference 2014
In a move to improve speaking and leadership skills, District 30 Toastmasters brings globally acclaimed speakers to the stage