In another surprising announcement, Ford says it made nearly $1 billion in profits ($997 million to be exact) for the third-quarter of 2009, its first operating profit in nearly two years. Ever since GM and Chrysler filed for bankruptcy, it has been all good news the Dearborn automaker. Just recently, it reported a sales increase for the month of October, the second consecutive month of increase.
“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. “Our solid product lineup is leading the way in all markets. While we still face a challenging road ahead, our One Ford transformation plan is working and our underlying business continues to grow stronger.”
Ford reported a revenue of $30.9 billion for the quarter, down $800 million from the same period last year. The company’s gross cash increased by more than $1 billion, from $21 billion at the end of the second quarter to $23.8 billion.