Ford on Friday raised third-quarter earnings guidance by 10 cents a share, from a range of breakeven to 5 cents per share to a range of 10 cents to 15 cents per share, excluding special items.

Forbes magazine said that, as a result, the company now forecasts that full-year earnings will be in the range of $US1.90 to $2 per share, compared with previous guidance of $1.80 to $1.90 per share, excluding items. Ford reportedly cited continued strong performance in its financial services division and improved cost performance in the company’s automotive sector, partially offset by lower production at luxury brand Jaguar.

Analysts surveyed by Thomson First Call predict Ford will post earnings per share of 10 cents and $1.99 in the third quarter and full year, respectively, Forbes said.