Ford posts $2.1b profit

Ford Motor Co. said Tuesday it earned a 2.1-billion-dollar profit in the first quarter of 2010, as global sales swelled.
"The basic engine that drives our business results -- products, market share, revenue and cost structure -- is performing stronger each quarter, even as the economy and vehicle demand remain relatively soft," said Ford chief executive Alan Mulally.
Ford said its growth came from across the globe, as its US market share rose to 16.6 percent, a jump of nearly three percentage points.
The firm's net earnings more than doubled those of the previous quarter and approached total profits of 2009.
"The Ford team around the world achieved another very solid quarter, and we are delivering profitable growth," Mulally added.
Revenue was up 3.7 billion dollars from the first quarter of last year to 28 billion dollars.