Ford Profits Soar, Chrysler’s Fall
DETROIT — Ford Motor Co. said today its third-quarter profits jumped 121% over the year-ago quarter, while Chrysler Corp. reported a steep 25.7% decline in earnings.
Ford’s net income was up $380 million, to $2.61 a share, from the same period last year. Quarterly revenues were up 173%, to $936.8 million. No. 3 Chrysler Corp. reported net earnings of $234.9 million, or $1.60 per share, in the three months ending Sept. 30. Their announcements came a day after industry leader General Motors reported a 49% earnings plunge.
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