DEARBORN, Mich. (WKOW) -- Ford Motor Co. points to a huge gain in debt reduction for its surprising second-quarter profit of $2.3 billion.
The figures mark a major improvement from the record $8.7 billion loss Ford reported in the same quarter last year.
In March, Ford swapped stock and cash to reduce its loan and bond debt by $7.7 billion. Without special items, Ford would have lost $424 million.
5727 Tokay Blvd., Madison, WI 53719
News Tips: 608-273-2727 or firstname.lastname@example.org