Ford Second Quarter Profits Beat Expectations

Record profits in North America

Powered by record profits in North American, Ford Motor said Wednesday that its net income increased in the second quarter to $1.2 billion, up $193 millionfrom $1 billion, on an increase of revenue from $38.1 billion, up $4.8 billion.

The automaker's results smashed through analysts estimates and the automaker surprised Wall Street by saying it expects to do better in the second half than it earlier forecast.