Podcasts & RSS Feeds
Most Active Stories
- An MSU physicist believes he has solved the "black hole information paradox"
- What you can do to help Michigan's bats
- "A sad day" for Michigan bats: White-nose syndrome found in 3 counties
- This is doing more damage to Detroit than a hundred drug murders could have
- Biologists expect the worst for Michigan's bat population
Thu February 24, 2011
GM has a very good year
General Motors says it earned $510 million in the fourth quarter and $4.7 billion last year as it continued an impressive comeback from bankruptcy.
It was the company's first profitable year since 2004 and GM's best performance since making $6 billion in 1999 during the pickup truck and SUV boom.
GM says fourth-quarter net income was fueled by strong sales in China and the U.S. as the global auto market began to recover. GM says net income per share was 31 cents, including $400 million in charges mainly for preferred stock dividends and for buying preferred stock from the U.S. government.
The quarterly profit was less than the two previous quarters. GM says expenses were higher because it launched two new vehicles. Revenue for the quarter was $36.9 billion.