General Motors Nets $3.2B In Profit For Q1 2011
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General Motors continues to impress with its bottom line, posting a significant $3.2 billion in net profits with revenue climbing to $36.2 billion for the first quarter of 2011.
This is the fifth consecutive quarter that The General has posted a profit, with GM North America as the most profitable earning $1.3 billion plus a $1.5 billion boost from the sales of Delphi and Ally Financial, which translates to $2.9 billion in EBIT according to the presser and up from $1.9 billion year-over-year. Shanghai GM posted merely a profit of $100 million, despite the huge sales numbers observed in China, while GM Europe broke even. GM South America also reported earnings of $100 million, down from the $200 million seen this time last year. Finally, GM International Ops earned $500 million, down from the $900 million seen from Q1 2010.
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