GM announces profit in Q1 results
The auto giant reported Q1 results that showed a net profit of $865 million, compared with a loss of $5.98 billion a year before.
GM also announced revenue of $31.5 billion and operating income of $1.2 billion.
'We’re pleased with our first quarter performance, in particular achieving profitability,' said Chris Liddell, 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. We’re also steadily growing in emerging markets, keeping our costs under control, generating positive cash flow and maintaining a strong balance sheet. These are all important steps as we lay the foundation for a successful GM.'For more of the latest industry news, click here.