earnings http://michiganradio.org en GM share price up on better-than-expected earnings report http://michiganradio.org/post/gm-share-price-better-expected-earnings-report <p>GM shares were up Wednesday on the back of a stronger-than-expected third-quarter earnings report.</p><p>The automaker reported a net income of $1.48 billion, down just 14.5 percent from last year despite major losses in Europe.</p><p>As a result, GM stock had increased by 9.66 percent to $25.53 a share by 2:20 p.m.</p><p>Melissa Burden with <a href="http://www.detroitnews.com/article/20121031/AUTO0103/210310377/GM-earnings-down-3Q-beat-expectations-1-5B?odyssey=tab|topnews|text|FRONTPAGE">the Detroit News</a> has more:</p> Wed, 31 Oct 2012 18:27:52 +0000 Michigan Radio Newsroom 9711 at http://michiganradio.org GM share price up on better-than-expected earnings report Chrysler's third-quarter profits up 80 percent http://michiganradio.org/post/chryslers-third-quarter-profits-80-percent <p>A third-quarter earnings report from Chrysler shows that profits are up 80 percent from last year.</p><p>The automaker earned $381 million over the past quarter, up from $212 million for the same period last year.</p><p>Brent Snavely from <a href="http://www.freep.com/article/20121029/BUSINESS0103/121029064/Chrysler-3rd-quarter-profit-up-80-to-381-million?odyssey=tab|topnews|text|FRONTPAGE">the Detroit Free Press has more</a>:</p> Mon, 29 Oct 2012 20:59:26 +0000 Michigan Radio Newsroom 9680 at http://michiganradio.org Chrysler's third-quarter profits up 80 percent Profits at Ford drop but beat Wall Street expectations http://michiganradio.org/post/profits-ford-drop-beat-wall-street-expectations <p>Ford Motor Company <a href="http://www.freep.com/article/20110726/BUSINESS0102/110726009/Ford-earns-2-4-billion-second-quarter?odyssey=tab|topnews|text|FRONTPAGE">announced its second-quarter earnings</a> this morning. And, although profits dropped slightly, the automaker did beat analysts&#39; expectations. The Associated Press reports:</p><blockquote><p>The company earned $2.4 billion, or 59 cents per share, down 8 percent from $2.6 billion, or 61 cents per share, in the second quarter of 2010. It was Ford&#39;s ninth straight quarterly profit. Worldwide sales rose, but the company spent more on materials and product development.</p><p>Revenue rose 13 percent to $35.5 billion. Analysts polled by FactSet had forecast revenue of $32.15 billion. Without one-time items, including $110 million for employee reductions, Ford would have earned $2.9 billion, or 65 cents per share. That beat analysts&#39; forecast of 60 cents per share. Ford paid off $2.6 billion in debt during the quarter. Tue, 26 Jul 2011 11:44:42 +0000 Zoe Clark 3460 at http://michiganradio.org Profits at Ford drop but beat Wall Street expectations Ford announces highest profit in more than a decade http://michiganradio.org/post/ford-announces-highest-profit-more-decade <P><A href="http://www.ford.com/">Ford Motor Company</A> announced this morning that it <A href="http://abcnews.go.com/Business/wireStory?id=12784029">had its best annual performance</A> in more than a decade. Ford earned $6.6 billion last year as sales jumped by 20 percent. Revenues rose 3 percent to almost $121 billion.</P> <P>UPDATED:&nbsp; 11:40 a.m.&nbsp; Ford CEO Alan Mulally says salaried and hourly workers will share in the good news in the form of profit-sharing checks.&nbsp; Hourly workers will get average payments of $5,000.</P> <BLOCKQUOTE> <P>"To be able to share the wonderful work, the wonderful success of this, with everybody's that's worked on quality, on fuel efficiency, on safety -- it's a tremendous day for all of us," says Mulally.</P></BLOCKQUOTE> <P>Ford made $7.2 billion dollars in 1999, but it sold nearly twice the number of vehicles to get that result compared to 2010.&nbsp; Mulally says the company is benefiting from what he calls a "home improvement loan" of $23-billion, taken out in 2006, that financed the company's effort to slash operating costs and improve quality.</P> <BLOCKQUOTE> <P>"You think about back then (1999) and now, this is a complete transformation of Ford," he says.</P></BLOCKQUOTE> <P>Mulally says the biggest challenge this year is not specifically a Ford problem.&nbsp; He says the U.S. needs to exercise sound fiscal policy so the economy continues to recover.</P> <P>Ford Motor Company is forecasting higher profits in 2011 than 2010.&nbsp;</P> <P>The company's stock dropped&nbsp;Friday morning, however, as investors reacted to Ford's fourth quarter results.&nbsp; The company's profits were lower than expected because of costs associated with restructuring some debt.</P> <P>Mulally says the company has made swift progress in paying off that "home improvement loan."&nbsp; Debt was reduced 43% in 2010.</P> <P> Fri, 28 Jan 2011 12:23:31 +0000 Zoe Clark & Tracy Samilton 1054 at http://michiganradio.org Ford announces highest profit in more than a decade GM posts 3rd quarter profit http://michiganradio.org/post/gm-posts-3rd-quarter-profit <p>General Motors announced this morning that it made $2 billion in the third quarter.&nbsp; The Associated Press <a href="http://www.google.com/hostednews/ap/article/ALeqM5iMAVsvO2QOZZqMmZQh70CvCuGUYw?docId=46ac7fef4c41489d9ee0c94a8dc69e77">reports</a>:</p><blockquote><p>The profit was fueled by GM&#39;s international operations and strong revenue from newly introduced car and crossover models in North America.</p></blockquote><p>The automaker&#39;s actual revenue rose 36% to a little more than $34 billion.&nbsp; This was the third-straight quarter in which GM was profitable.</p> Wed, 10 Nov 2010 14:17:18 +0000 Zoe Clark 300 at http://michiganradio.org GM posts 3rd quarter profit Chrysler narrows losses in 3rd quarter http://michiganradio.org/post/chrysler-narrows-losses-3rd-quarter <p>Chrysler says it <a href="http://www.publicbroadcasting.net/michigan/news.newsmain/article/0/1/1722801/Michigan.News/Chrysler.narrows.losses.in.3rd.quarter">narrowed its losses</a> in the 3rd quarter of this year. The automaker reported a net loss of $84 million from July through September. That&rsquo;s <a href="http://detnews.com/article/20101108/AUTO01/11080367/Chrysler-cuts-losses-in-Q3">less than half</a> of its $172 million loss in the second quarter. The automaker says this was the third quarter in a row of better-than-expected financial results.</p> Mon, 08 Nov 2010 12:55:49 +0000 Zoe Clark 291 at http://michiganradio.org Chrysler narrows losses in 3rd quarter