Ford has reported higher-than-predicted quarterly results this week after earnings in North America fell "less steeply" than most analyst predicted, according to Reuters.

The automaker recently described 2014 as a transition period that will "test the strength" of CEO Alan Mulally and the company's ongoing restructuring effort.

The No. 2 automaker in the U.S. also recently affirmed its 2014 profit outlook presented just last month to investors.

Ford said in December that vehicle pricing in the U.S. would be "slightly unfavorable" this year, according to Reuters. The price decline, along with 23 new vehicles, and a declining Venezuelan economy is expected to dent its 2014 profit.

Shares were up slightly to 0.2 percent at $15.74 in midday trading however.

The company's net income during the fourth quarter to $3 billion, or 74 cents a share, compared to $1.6 billion, or 40 cents a share, compared to 2013.

Ford will pay record profit sharing checks to United Auto Works members as well after posting record profits.

Workers will received on average $8,800 to around 47,000 hourly U.S. workers, $500 more than last year.

The automaker said it will continue hiring workers in 2014, and will have its largest staffing increase in 50 years. 

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