UPDATE: Ford Reports Upbeat Q2 Profit, Shares Rise In Pre-Market

Ford Motor Co F reported upbeat profit for the second quarter. Ford's quarterly net income dropped 8% y/y to $2.4 billion, or $0.59 per share, from $2.6 billion, or $0.61 per share. Excluding one-time items, Ford's profit came in at $0.65 per share. Its revenue climbed 13% to $35.5 billion. Analysts were expecting earnings of $0.60 per share on revenue of $31.59 billion. Ford shares gained 2.96% to $13.56 in pre-market trading.