April 26, 2011 / 11:06 AM / 7 years ago

Ford posts stronger-than-expected 1st qtr profit

* Q1 EPS ex items 62 cents vs Street view 50 cents

* Revs $33.1 bln vs Street view $29.7 bln

DETROIT, April 26 (Reuters) - Ford Motor Co F.N reported its best first-quarter profit in 13 years, driven by strong sales in its home market and demand for more fuel efficient vehicles.

Net income rose to $2.55 billion, or 61 cents a share, compared with $2.09 billion, or 50 cents a share, in the year earlier period. It was the highest first-quarter net income since 1998.

Excluding one-time items, it earned 62 cents a share, easily topping the 50 cents analysts polled by Thomson Reuters I/B/E/S had expected. It was the seventh straight quarter of operating profit.

Revenue rose to $33.1 billion from $28.1 billion last year. Analysts had expected $29.7 billion. (Reporting by Bernie Woodall and Ben Klayman; Editing by Derek Caney)

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