G.M.’s Earnings Triple in First Quarter
 

General Motors said Thursday that it made $3.2 billion in the first quarter, more than triple what it earned in the quarter a year ago and its fifth consecutive profitable quarter.

Earnings were higher than expected, and included $1.9 billion in one-time gains for the sale of G.M.’s ownership interests in the Delphi parts maker and the Ally Financial credit-company. G.M. also took charges of $500 million related to its international operations.

Earnings were or $1.77 a share, compared with 55 cents in the quarter a year ago.

Without the charges and gains, the automaker earned about $1.7 billion, its best quarterly performance in more than a decade. In the quarter a year ago, G.M. reported a profit of $900 million.

“We are on plan,” Daniel F. Akerson, G.M.’s chairman and chief executive, said in a statement. “G.M. has delivered five consecutive profitable quarters, thanks to strong customer demand for our new fuel-efficient vehicles and a competitive cost structure that allows us to leverage our strong brands around the world and focus on driving profitable automotive growth.”

G.M. said revenue in the quarter increased 15 percent to $36.2 billion , and it ended the quarter $30.6 billion in cash reserves.

http://www.nytimes.com/2011/05/06/bu...motors.html?hp

Note: May 5, 2011

are they going to pay back the government for bailing them out?

Are you kidding, it will probably not be appropriate..:o

No, the government owns GM. No sense paying yourself back. :DL

:hmmm: So when do the stockholders (the US taxpayers) get their dividends?

Does that mean that the government owns the banks and wall-street too?

No, but the benefits can come from any tax cuts .... which is unlikely in the current situation, I think that many shareholders are pretty big loser in the context

My exact first thought when I read Thread title. :up:

I thought GM paid in all back plus interest....

I bet all the people who bought at $.55 are happy now

Yes sir. Washington has not seen any returns yet. Therefore, these entities are under government watchful eye. :o

:har: