Ford sees Q4 profits shrink 79%

Dearborn, Michigan: Ford Motor Co, the second-largest US carmaker, said fourth-quarter profit fell 79% as its European operations reported an unexpected loss.

Net income dropped to $190 million (€139m), or 5 cents a share, from $886m, or 25 cents, a year earlier, Ford said.

Profit excluding some items was 30 cents a share, trailing the 48-cent average estimate of 14 analysts surveyed by Bloomberg.