[Cmicasa the GreatXvX]

General Motors
Photo credit: General Motors
May 3, 2012

• EBIT-adjusted of $2.2 billion
  

• Net income of $0.60 per share after net loss from special items of $0.33 per share
  

General Motors Co. (NYSE: GM) today announced first quarter net income attributable to common stockholders of $1.0 billion, or $0.60 per fully diluted share. These results include a net loss from special items related to goodwill impairment that reduced net income by $0.6 billion, or $0.33 per fully diluted share.

In the first quarter of 2011, GM’s net income attributable to common stockholders was $3.2 billion, or $1.77 per fully diluted share, including a net gain from special items of $1.5 billion or $0.82 per share.

Net revenue in the first quarter of 2012 was $37.8 billion, an increase of $1.6 billion compared with the first quarter of 2011. Earnings before interest and tax (EBIT) adjusted was $2.2 billion, an increase of $0.2 billion compared with the first quarter of 2011.

“The U.S. economic recovery, record demand for GM vehicles in China and the global growth of the Chevrolet brand helped deliver solid earnings for General Motors,” said Dan Akerson, chairman and CEO. “New products are starting to make a difference in South America, but Europe remains a work in progress. We’ll continue to work on both revenue and cost opportunities until we have brought GM to competitive levels of profitability.”

[Cmicasa the GreatXvX]

I really thought that GM was going to post a profit in the $900 Millions this quarter due to a massive amount of new vehicles built from ground up coming in the next year. These vehicles, including the new GMTs, new Vette, new ATS, XTS, new engines and plants... cost money.

Anyway.. good news.. and hopefully the PSA tie-up will reign Opel's losses in soon. TrueCar. reports that GM incentive spending is down while transaction prices are above all other makers... that's with Cadillac and Buick both down in sales and Chevy and GMC holding down the fort.. This kills that moronic Ford Janitor's belief that the only reason GM had higher transaction prices was because it had Cadillac. TrueCar reports that GM is selling at about $2K more than it's closest American rival, Ford. Only VW/Audi rivals it.

[McLovin]

No need for disclaimers casa, as everyone is spending money and upgrading, etc.

GM did fine.

[G8mike]

Good stuff. And Casa, it's Censors, not Sensors. Spelling cop says you're welcome.

[ncguy]

Excellent news!

[96s-10ss]

Weren't all the D3 makes up?
D3 is back!!!