DEARBORN, Michigan: Ford Motor Co. says it earned $2.6 billion in the first quarter, helped by new vehicles like the Ford Explorer. It was Ford's best first-quarter performance since 1998.The company earned 61 cents per share, compared with 50 cents per share in the same quarter a year earlier. Ford's revenues rose 18 percent to $33.1 billion. The company was profitable in all regions even as commodity cost rose. Ford ended the quarter with $16.6 billion in debt, down $2.5 billion from the beginning of the year. “This revenue growth, along with scale benefits from increasing volume, are driving improvements in profitability and operating margin – despite higher commodity costs and planned cost increases associated with the investments Ford is making in its products, brand and future growth,” the Dearborn, Michigan-based firm said.
