Ford Motor Co. swings to 2Q profit

Ford Motor said it had second-quarter net income of $2.3 billion, or 69 cents per share, compared with a net loss of $8.7 billion, or $3.89 per share, a year ago. That was the company’s worst-ever quarterly result.Ford’s second-quarter revenue declined 40 percent, to $27.2 billion from $41.1 billion a year earlier.Ford’s North American operations had a pre-tax loss of $851 million, compared with a loss of $1.3 billion a year ago. The loss, the company said, was cut primarily by structural spending cuts and improved market share. The unit’s second-quarter revenue was $10.8 billion, compared with $14.2 billion a year earlier.