Summary
DETROIT -- In less than a year, General Motors Co. has roared back from bankruptcy to a quarterly profit. Now comes the hard part: Sustaining the income and repaying billions of dollars in government aid.
There are signs that GM is on track to do just that. Revenue is up 40 percent over the first quarter of last year. U.S. sales rose 17 percent for the quarter, and the automaker made an operating profit in North America, which had been a cash incinerator. Units in Asia and Latin America posted strong numbers, too.See the full content of this document
Extract
Gm Roars Back to Profit
As a result, the automaker announced Monday, its net income rose to $865 million, a dramatic reversal from the $6 billion the company lost in the same period last year.
"Today's news was wonderful and even better than we ever expected to be this far in the post-restructuring period," said Steven Rattner, former ...See the full content of this document
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