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Ford 3Q profit falls to $1.6 billion, but beats Wall Street forecasts
DEARBORN, Mich. (AP) ' Ford says it earned $1.6 billion in the third quarter, down 2 percent from a year ago. The drop was partly due to a charge for hedging on commodities like copper whose prices fell during the quarter.
Ford Motor Co. earnings, of 41 cents per share, compare to earning of 43 cents per share in the July-September period a year ago.
The country's second largest automaker says revenue was $33.1 billion, up 14 percent from the year earlier revenue of $29 billion.
Without one-time items, including personnel reductions, Ford earned 46 cents per share.
That beat Wall Street's expectations. Analysts polled by FactSet forecast earnings of 45 cents per share on revenue of $29.9 billion.
Ford took a $350 million non-cash charge to reflect falling prices of some commodities.