Ford quarterly profit is up 20% from a year earlier.

Ford Motor said Wednesday that its second-quarter profit rose nearly 20 percent from a year earlier, when the global chip shortage took a severe toll on its operations.

The automaker recorded a profit of $667 million, up from $561 million in the same period a year ago. Its revenue was up substantially, to $40.2 billion from $26.8 billion, thanks to rising vehicle sales and higher prices.

Globally, Ford sold just over one million vehicles in the latest quarter, a sharp increase from 764,000 in the 2021 period.

Ford said its forecast for 2022 was unchanged. It previously said it expected $11.5 billion to $12.5 billion in adjusted earnings before interest and taxes.

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