Ford reduces profit

Profit of Ford Motor Co., the second-largest US automaker, in the third quarter of 2014 exceeded the expectations of the market, despite of its sharp decline due to the rising costs for development and production of new models. 

According to a press release from Ford, the company net profit in July-September fell to $ 835 million, or $ 0.21 per share, compared to $ 1.3 billion, or $ 0.31 per share for the same period last year. 

Profit excluding one-time factors dropped to $ 0.24 per share from $ 0.45 per share a year earlier. Ford's revenue decreased by 0.9% - to $ 34.9 billion.