Ford Motor sets records for profit at 113%

Ford Motor Co reported a 113% rise in net income and company records for global and North American operating margins.

Ford's net income was $2.45 billion, or 61 cents per diluted share, versus $1.3 billion or 29 cents per diluted share a year ago.

Excluding one-time items, Ford's earnings per share of 68 cents easily beat Wall Street expectations of 48 cents per share.