Ford Motor (F) said its profits in the second quarter continued to climb despite a slight decline in revenue and challenges in Russia and Latin America. Ford posted profits of 40 cents a share, that was 4 cents better than estimates. On the top line, revenue for the quarter was $37.4 billion, better than Wall Street forecasts. Ford's CFO Bob Shanks said the company is monitoring the impact any additional sanctions against Russia could have on its joint venture there. He said Russia has the potential to be the largest auto market for Ford in Europe if the geopolitical issues can be sorted out. Shanks also said the launch of the F-150 is on track for fall and it will start to see the sales benefits in 2015 and 2016. TheStreet's Ruben Ramirez reports from New York.