Ford Motor Co. today swung to a surprise second-quarter profit

DETROIT (Reuters) -- Ford Motor Co. today swung to a surprise second-quarter profit after seven quarters of losses on cost-cutting and a turnaround in its core automotive operations, pushing shares
higher.
Ford, which is in the midst of a restructuring plan that includes closing 16 plants and cutting up to 45,000 jobs, posted a net profit of $750 million, compared with a loss of $317 million a year earlier.
Ford's profit from continuing operations, excluding one-time items, was 13 cents per share. That blew past the average Wall Street forecast of a loss of 37 cents per share as tracked by Reuters Estimates.
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