DETROIT General Motors said Monday it earned $865 million in the first quarter, its first profit since 2007, after last years government-sponsored bankruptcy allowed the carmaker to wipe away many of its longstanding burdens.
G.M. said revenue was up 40 percent, to $31.5 billion, and it had positive cash flow of $1 billion.
The results show that G.M. is on track to become a public company again as soon as the fourth quarter, allowing the government to recover more of the billions of dollars it spent preventing G.M.s collapse.
G.M. Earns $865 Million as Quarter Quarterly Sales Rise 40% - NYTimes.com
G.M. said revenue was up 40 percent, to $31.5 billion, and it had positive cash flow of $1 billion.
The results show that G.M. is on track to become a public company again as soon as the fourth quarter, allowing the government to recover more of the billions of dollars it spent preventing G.M.s collapse.
G.M. Earns $865 Million as Quarter Quarterly Sales Rise 40% - NYTimes.com