Ford Motor Co. on Monday posted a higher-than-expected 19 percent increase in earnings, boosted by strength in its finance arm and the sale of its Hertz Corp. rental car unit, even as its core automotive division lost money.
Ford, facing a deepening financial crisis in North America, said fourth-quarter net income rose to $124 million (8 cents a share), from $104 million (6 cents) a year ago. Excluding special items, the company earned 26 cents a share, beating the average analyst expectation of 1 cent a share.
