Ford earns $3bn in quarterly net income

January 29, 2014 12:00 am

Ford Motor Co has reported a stronger-than-expected quarterly profit, as higher earnings in the second-biggest US automaker’s core North American market offset losses in Europe and South America, Reuters has reported. Net income in the fourth quarter rose to $3bn, compared with around $1.6bn a year earlier. The results included a $2.1bn gain from the addition of deferred tax assets to the balance sheet, as well as charges of $311m for last year’s pension buyouts and layoffs in Europe.