Ford's 2015 profit jumps on stronger sales

Posted at 7:14 AM, Jan 28, 2016
and last updated 2016-01-28 07:53:01-05

Ford Motor Co.'s net income jumped to $7.4 billion last year as its U.S. sales reached their highest level in a decade.

The profit, of $1.84 per share, of was six times higher than Ford's results the previous year and beat Wall Street's forecast. Analysts polled by FactSet were expecting full-year earnings of $1.73 per share.

Ford's revenue rose 4 percent to $149.6 billion for the year, also beating forecasts.

Global sales rose 5 percent to 6.6 million for the year.

North America drove Ford's results, with a pretax profit of $9.3 billion. For eligible UAW workers, they'll be getting a record $9,300 in profit-sharing checks.

Ford also achieved a record pretax profit of $765 million in its Asia Pacific region and returned to profitability in Europe for the first time since 2011.

Fourth-quarter net profit more than doubled to $1.9 billion.