On Thursday, Ford Motor Company said that it earned $100 million in the first quarter, after the loss in the same quarter a year ago, a surprising improvement amid a downturn in the United States market that has cut sales of lucrative trucks and sports utility vehicles.

The New York Times reports that, “the company also warned of the possibility of more cuts in its work force. Ford’s automotive operations earned a pre-tax profit of $669 million, compared with a loss of $895 million a year ago, though the company continued its lengthy streak of money-losing quarters in North America.”

In early afternoon trading on the New York Stock Exchange, shares of Ford jumped as much as 17 percent to $8.79, the highest level since November.

Alan R. Mullaly, chief executive of Ford, is quoted by the NY Times as saying, “the underlying business is improving and we are cautiously optimistic that, despite the external difficulty, our plan is working. Clearly it’s a more challenging environment than when we laid out the plan.”

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