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Empresas y finanzas

Ford earnings down on weakness in Europe


    DETROIT (Reuters) - Ford Motor Co reported a lower quarterly profit on Friday hurt by weak international results, particularly in Europe, and a higher tax rate.

    The second-largest U.S. automaker reported first-quarter net income of $1.4 billion or 35 cents per share, down from the $2.6 billion net income it reported a year earlier.

    About half that drop was due to higher tax expenses, Ford said.

    The company also recorded $255 million in special charges, largely due to buyouts of workers represented by the United Auto Workers union.

    Adjusted for one-time items, the company reported a profit of 39 cents per share. Revenue was $32.4 billion, down from $33.1 billion a year before.

    In Europe, Ford reported a pretax loss of $149 million, hurt by dwindling auto demand as many countries in Europe experienced recession-like conditions. Ford also reported a loss in its operations in Asia and Africa as well as lower profits in South America.

    (Reporting By Bernie Woodall; Editing by Gerald E. McCormick)