Open

Coming up

Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

"Why Are So Many Children Dying in Gaza?"

Read more

AFRICA NEWS

Central African Republic: Seleka calls for partition

Read more

DEBATE

Nigeria: One Hundred Days and Counting (part 2)

Read more

DEBATE

Nigeria: One Hundred Days and Counting

Read more

FOCUS

Can Chancellor Merkel's winning streak last?

Read more

FOCUS

Hunger in a fertile land...

Read more

ENCORE!

High-tech acting king Andy Serkis on Dawn of the Planet of the Apes

Read more

REPORTERS

Hong Kong in rebellion against the 'motherland'

Read more

TALKING EUROPE

Dalia Grybauskaite, President of the Republic of Lithuania

Read more

  • In pictures: Thousands march for Gaza peace in Paris

    Read more

  • UN human rights chief blasts Israel-Gaza ‘war crimes’

    Read more

  • Bomb attacks leave scores dead in north Nigeria

    Read more

  • Gaza protests: ‘France imported the Mideast conflict a long time ago’

    Read more

  • Ryanair ordered to pay back €9.6m in illegal state aid to France

    Read more

  • Remains of Flight MH17 victims arrive in the Netherlands

    Read more

  • Two Ukrainian fighter jets shot down over rebel-held territory

    Read more

  • Video: Fear, death and mourning in Gaza’s Khan Younis

    Read more

  • TransAsia Airways Taiwan crash leaves dozens dead

    Read more

  • Poland’s Rafal Majka wins 17th stage of Tour de France

    Read more

  • Young riders raise French hopes for Tour de France

    Read more

  • Defying UK, France to proceed with warships sale to Russia

    Read more

  • US courts issue conflicting reports on Obamacare

    Read more

  • Video: Lebanon fears fallout from regional turmoil

    Read more

Business

US auto giant GM reports first quarterly profit since 2007

Text by News Wires

Latest update : 2010-05-17

General Motors reported Monday a post-bankruptcy quarterly profit for the first time in three years of nearly 900 million dollars. It had reported a post-bankruptcy 2009 loss of 4.3 billion dollars.

AFP - US auto giant General Motors reported Monday a post-bankruptcy quarterly profit for the first time in three years of nearly 900 million dollars.

The net income during the January-March period came on the back of sales and revenue of 31.5 billion dollars, up from 22.4 billion dollars in the corresponding period in 2009.

"We're pleased with our first-quarter performance, in particular achieving profitability," said Chris Liddell, GM vice chairman and chief financial officer.

"In North America we are adding production to keep up with strong demand for new products in our four brands."

In its first-quarter earnings report, GM said net income attributable to stockholders reached 865 million dollars from a massive loss of 5.98 billion dollars during the same period in 2009.

GM, which received 50 billion dollars of government financing for its bankruptcy restructuring, said last month it was able to pay off 8.4 billion dollars in government loans ahead of schedule.

It had reported a post-bankruptcy 2009 loss of 4.3 billion dollars.
 

Date created : 2010-05-17

  • AUTO INDUSTRY

    GM posts 4.3 billion-dollar net loss for 2009

    Read more

COMMENT(S)