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Thursday April 26, 7:26 PM Ford posts narrower loss on cost-cutting Photo: Reuters Click to enlarge DETROIT (Reuters) - Ford Motor Co. posted a narrower quarterly loss Thursday as cost-cutting and improved results from its European and luxury vehicle operations partially offset weaker sales and charges for restructuring. Ford, which is in the midst of a turnaround plan that includes closing 16 plants and cutting up to 45,000 jobs in North America, posted a net loss of $282 million, or 15 cents per share, compared with a loss of $1.4 billion, or 76 cents a share, a year earlier. The results were better than Wall Street had expected, and Ford shares rose 3.4 percent in electronic trading before the opening bell on the New York Stock Exchange. Ford's loss from continuing operations, excluding one-time items, was 9 cents per share. The average Wall Street forecast was a loss of 60 cents per share, according to Reuters Estimates. First-quarter revenue totaled $43 billion, up from $40.8 billion a year earlier. Global auto revenue rose to $38.6 billion from $37 billion. The company posted a record loss of $12.7 billion last year and has forecast its core North American operations will not be profitable until 2009. Its margins have squeezed by intense competition and shifting consumer tastes away from profitable sport utility vehicles. Ford's core automotive operations posted a loss of $225 million in the first quarter, before taxes and excluding special charges, while its financial services arm posted a profit of $294 million. In North America, Ford lost $614 million during the quarter, before taxes and excluding special items. Those losses were partly offset by cost savings of $500 million, including $400 million in North America. Ford's European and luxury operations, dubbed Premier Automotive Group, posted improved results in the quarter.