The New York Times
Thu, August 12, 2010 -- 7:59 AM ET
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G.M. Reports Net Income of $1.3 Billion as It Prepares for Public Offering
General Motors said Thursday that it had net income of $1.3
billion in the second quarter, becoming the third Detroit
automaker to report stronger results.
The quarterly profit marks G.M.'s strongest financial
performance since 2004, and sets the stage for the automaker
to file for an initial public stock offering as soon as
Friday. It was the company's second consecutive quarterly
profit.
The automaker reported revenue of $33.2 billion in the second
quarter compared with $31.5 billion in the first. Earnings in
the first quarter were $865 million.
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