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Ford profit exceeds estimates

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Co, the second-largest US automaker, reported fourth-quarter profit that exceeded estimates as demand for its pickups drove record results for its operations in North America.

Ford reported net income of $1.6 billion, or 40 cents a share. Excluding one-time items, the per-share profit was 31 cents, exceeding the 25-cent average estimate of 19 analysts surveyed by Bloomberg. The result compared with net income of $13.6 billion, or $3.40 a share, a year earlier, when a tax gain boosted fourth-quarter earnings.

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