DEARBORN, Mich. (AP) — Ford earned $1.6 billion in the fourth quarter as sales rose in every region outside Europe.
Ford's net income fell from $13.6 billion in the same quarter last year, but that figure included a big accounting-related gain. Without that gain, Ford's earnings were up from $1 billion in the fourth quarter of last year.
The No. 2 U.S. automaker earned 31 cents per share, up from an adjusted 20 cents per share in the fourth quarter of 2011. That beat analysts' forecast of 25 cents per share, according to FactSet.
Fourth-quarter revenue rose 5 percent to $36.5 billion, beating analysts' forecast of $33.5 billion.
For the full year, Ford earned $5.7 billion, or $1.42 per share. That was down $300 million from 2011.