Ford Motor operating earnings for the second quarter beat Wall Street expectations as better-than-expected profit in North America and Europe countered weaker results in Asia Pacific and South America.
Ford's Chief Financial Officer Bob Shanks said lower costs helped boost the company's pretax profit in North America to a record $2.44 billion. Nine analysts surveyed by Reuters expected a pretax profit of $2.04 billion.
Costs in the second half of the year are expected to rise as the company introduces more products, including the most important vehicle in its portfolio, the F-150 pickup truck.
After the earnings announcement, the company's shares rose in pre-market trading. (Click here to get the latest quotes for Ford.)