GM posts $865M first quarter profit, its first in 3 years

[6 Shooter]

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Detroit -- General Motors Co. made $865 million during the first quarter -- its first quarterly profit in almost three years -- in a show of progress made possible by a rebound in sales and the company's bankruptcy filing, which helped GM shed billions in liabilities and lower its break-even point.

Operating income was $1.2 billion from January through March, during which time GM posted revenue of $31.5 billion, a 40 percent increase. GM also generated $1 billion in free cash flow during the quarter.

The $1.66 per-share profit compared to a $6 billion net loss a year earlier, or $9.78 per share, as GM teetered on the brink of bankruptcy.

The Detroit News

 

[tim414]

I am soooooo glad they are in the black.....I hope it's permanent too. That will guarantee our favorite rides continued presence.....

 

[vett boy]

Well I hope the Unions don't hear about it .They'll want $865 mill in raises

Other than that I'm glad for GM