Ford Profit $1.1 Billion, Up 54%

Ford Motor Co., the nation’s No. 2 car maker, today reported a net profit of nearly $1.1 billion for the second quarter, a company record for any quarter and a 54% improvement over the same period a year ago.

It was Ford’s first billion-dollar quarter since becoming a publicly held company 30 years ago. Ford said its earnings came to $4.02 a share, compared with $2.50 a share a year earlier.