NEW YORK ( CNBC) -- As Ford ( F) posted better than expected first quarter earnings (39 cents a share vs. 35 cent estimate), the automaker finds itself working in two worlds. Europe Struggles Europe swung to a loss of $149 million (vs. profit of $293m last year) as sales dropped (down 60,000) and revenue plunged (down $1.5 billion) in a continent where the economy is reeling. Ford CEO Alan Mulally is unsure Europe's economy has bottomed out. "We just don't know about Europe," said Mulally. "So we're going to continue taking down shifts, cutting costs and try to minimize our losses."
By Phil LeBeau, CNBC Correspondent
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