Thursday, May 5, 2011

General Motors Co. (NYSE: GM): Q1 2011 Earnings Roundup

General Motors Co. (NYSE: GM) said Thursday that its first-quarter profit surged to $3.2 billion, or $1.77 a share, from $865 million, or 55 cents a share, in the year-earlier quarter. The latest results included special items that increased earnings by 82 cents a share. Revenue climbed to $36.2 billion from $31.5 billion. Analysts, on average, expected the company to report earnings of 91 cents per share on revenue of $35.59 billion. 

"GM has great potential to deliver profitable growth around the world as the recovery continues," said Dan Ammann, senior vice president and CFO. "While we're encouraged, we keenly recognize we have more opportunities to leverage our scale, improve spending and investment efficiencies, and optimize our strong balance sheet."

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