UPDATE: Ford Posts Higher Q4 Profit

Ford Motor Co (NYSE. F) reported a rise in its fourth-quarter profit. Ford's quarterly profit surged to $3.04 billion, or $0.74 per share, from a year-ago profit of $1.60 billion, or $0.40 per share. Its adjusted earnings came in at $0.31 per share. Its revenue surged to $37.6 billion versus $36.3 billion. However, analysts were expecting a profit of $0.28 per share on revenue of $34.96 billion. For 2014, Ford projects a pretax profit of $7 billion to $8 billion. Ford shares gained 2.16% to $16.05 in pre-market trading.