国际英语新闻：Ford posts big profit in second quarter

CHICAGO, July 23 (Xinhua) -- Ford Motor Co. posted a surprise profit of 2.3 billion U.S. dollars for the second quarter, a sharp contrast to the whopping 8.7 billion-dollar-loss it reported for the same period a year ago, reports reaching here said Thursday.

    However, the profit was largely due to one-time gains related to its debt reduction moves, according to a Detroit News report.

    Even with those special items removed, the U.S. automaker surprised Wall Street with a pre-tax operating loss of 424 million dollars for the second quarter of 2009, excluding special items, a609-million-dollar improvement compared with the second quarter of2008.

    After taxes and excluding special items, Ford posted an operating loss of 638 million dollars in the second quarter, or 21cents per share, compared with a loss of 1.4 billion dollars, 63 cents per share a year ago.

    Analysts also believed that rivals' troubles have helped Ford. Ford is alone among American carmakers in refusing a government bailout and avoiding bankruptcy. Analysts say it has benefited from the woes of its rivals -- GM and Chrysler.