Ford Reports $123 Million Loss in Q2

ord Motor Co. said Thursday it lost $123 million or 7 cents a share in the second quarter, compared with a $964 million profit or 47 cents a year earlier.

img src="/sites/default/files/images/articles/fordlogo.gif" width=90 align=right>Revenue fell 6% to $41.97 billion from $44.55 billion in last year's second quarter.

Ford attributed the loss to sliding sales and costs associated with personnel reduction. The automaker previously said it plans to close 14 plants and cut up to 30,000 jobs by 2012 as part of its restructuring efforts. (Click here for previous coverage.)