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Ford Motor Company Reports Billion Dollar Profit

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Ford Motor Company announced $1 Billion dollars in profit for the 2008 third quater, meaning Ford earned $1 billion in profit in only three months (just under $350 million per month or about $11 million per day)!

The company said cost cutting during the past year and an improved outlook for sales leads it to believe Ford will be "solidly profitable" in 2011, excluding special items. That’s the most bullish outlook Ford has offered investors since it started losing money in 2005.

"Our third quarter results clearly show that Ford is making tremendous progress despite the prolonged slump in the global economy," said Ford President and CEO Alan Mulally in a statement.

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The company reprted overall revenue of $30.9 billion in the [third] quarter. . . .

Ford’s overall revenue shows that Ford brought in $333 million in revenue each day during the 2008 third-quarter. Ford’s remarkable turnaround comes on the heals of some negative product liability news. Ford recently recalled more than 16 million vehicles because of the risk of fire from a faulty switch. In addition, other Ford products — such as 15 passenger vans and Ford Explorer vehicles — continue to face scrutiny from the safety community. Ford needs to take some of the quarter-billion dollars it brough in each day and make sure it provides safe vehicles to the public.

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