News Summary: Ford profit eclipsed by Europe

News Summary: Ford profit tops estimates but shares fall as company warns of Europe loss

Associated Press

FORD EARNINGS: Ford said Tuesday it earned $5.6 billion in 2012, down slightly from 2011. Earnings fell to $1.42 per share from $1.51 per share.

HIGHLIGHTS AND LOWLIGHTS: Ford reported a record pretax profit of $8.3 billion in North America. It will give profit-sharing bonuses of $8,300 to 45,800 U.S. workers based on those results. But the company lost $1.75 billion in Europe, where sales fell 15.5 percent.

WHAT'S NEXT: Ford said it expects to lose $2 billion in Europe this year as it closes plants and introduces new vehicles. Ford's shares fell 5 percent on the news.

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