GM posts third straight quarterly profit

As it prepares for a public offering this month, General Motors Co. posted its third consecutive profitable quarter Wednesday and is on track to have its first full-year profit since 2004.

Bolstered by better sales and cost-cutting measures, the Detroit-based automaker earned $2 billion in the third quarter a week before its planned return to the stock market on Nov. 18.

GM reported that revenue rose 36% to $34.1 billion in the quarter. The company said earnings per share jumped $1.20, compared to a loss of 73 cents a share in the prior period.

Read Full Article from Los Angeles Times

- Posted: 2010-11-10 09:42:32

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