Detroit, Oct 17: Ford Motor on Thursday posted a smaller-than-expected quarterly net loss thanks to its finance business. Ford, the world’s second-largest automaker, said it had a third-quarter net loss of $25m, or 1 cent a share, compared with a net loss of $326m, or 18 cents a share a year ago.
Excluding a $264m charge from a change in accounting standards, Ford said it earned $237m, or 13 cents a share. But it warned about restructuring charges of up to $600m for its European business.

Ford also raised its full-year outlook, primarily on the strength of its Ford Credit arm, and said it was committed to achieving break-even results in its automotive business, a key metric for the company’s credit rating.
Ford had told analysts to expect a loss of 15 cents a share before one-time charges, but several had expected Ford to outperform its estimates by a few cents. Bureau Report