General Motors posted a $3.2 billion profit in the first quarter, which was also its first full quarter as a public company. Sales were $36.2 billion, up $4.7 billion from the quarter a year ago, GM said.
Net income per share was $1.77. The profit was boosted by some one-time gains, particularly the sales of GM's stake in Delphi, its former parts unit, and its preferred shares of Ally Financial, the former GMAC captive finance unit. But even excluding those items, profit was $2 billion before interest and taxes, beating analysts expectations of about $1.6 billion and up from $1.7 billion in the quarter a year ago.
It was a fifth consecutive profitable quarter, if you include quarters before it became a public company last November.
General Motors posts $3.2 billion 1st-quarter profit - Drive On: A conversation about the cars and trucks we drive - USATODAY.com
Net income per share was $1.77. The profit was boosted by some one-time gains, particularly the sales of GM's stake in Delphi, its former parts unit, and its preferred shares of Ally Financial, the former GMAC captive finance unit. But even excluding those items, profit was $2 billion before interest and taxes, beating analysts expectations of about $1.6 billion and up from $1.7 billion in the quarter a year ago.
It was a fifth consecutive profitable quarter, if you include quarters before it became a public company last November.
General Motors posts $3.2 billion 1st-quarter profit - Drive On: A conversation about the cars and trucks we drive - USATODAY.com