Filed under: Chrysler, Ford, Earnings/Financials
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As we continue to pull the daily sheets from our Word of the Day calendar and accountants are busy counting the days of their fiscal calendars, the pencil pushers at Ford and Chrysler can rest easy for a moment because they just finished compiling the numbers for the second quarter.
Ford earned a net income of $2.4 billion in Q2, which is actually $201 million less than it had raked in by this time last year. The net income was affected by a reduction in staff, various dealership actions, pension settlements in Belgium and the move to eliminate the Mercury brand. The automaker enters the rest of the year with $32.2 billion in liquid assets, which will come in handy as Ford looks to expand its market share around the globe.
Chrysler as gone in a different direction than Ford for the second quarter of 2011. Compared to Q2 last year, the automaker is up 30 percent with net income of $13.7 billion. Chrysler’s numbers should continue to grow as it releases new or redesigned models, and has paid off major debts owed to the United States and Canadian governments.
Ready to take a deeper dive into the quarterly earnings for both automakers? Click past the jump for the full financial reports.Continue reading Ford, Chrysler report quarterly earnings
Ford, Chrysler report quarterly earnings originally appeared on Autoblog on Tue, 26 Jul 2011 13:00:00 EST. Please see our terms for use of feeds.
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