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Ford surpasses expectations, yet profit falls 56%

Ford is reporting a 56% loss in fourth-quarter profit for 2014, a year in which the company launched 24 vehicles worldwide while its U.S. market share declined.

The Blue Oval's annual net income dropped from $7.2 billion in 2013 to $3.2 billion in 2014, and while it recorded a 22nd consecutive profitable quarter with $52 million, that was down from $3 billion in the same period a year earlier.

Decreasing profit can be explained in part by a previously disclosed pre-tax charge related to currency devaluation in Venezuela, costs related to job cuts in Europe and Asia Pacific, and efforts to boost sales in those markets.

Ford actually surpassed its goal of $6 billion in operating income with a total of $6.3 billion.

Sources: Automotive News, La Presse