Saturday, May 7, 2011

GM's Profit Triples

Saturday, May 7, 2011

DETROIT—General Motors Co. said Thursday its net income tripled in the first quarter due to stronger vehicle sales and sales of assets, including its stake in Delphi Automotive LLP.

GM said net income rose to $3.2 billion, or $1.77 a share, from $865 million or 55 cents a share, beating analyst estimates of about 93 cents a share. Operating profit, reflecting the strength of its core automotive business, increased to $2 billion from $1.7 billion. Revenue increased 15%, to $36.2 billion, from $31.5 billion.

"This is a sold quarter. It puts us in the position of not having to worry ...

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