published Thursday, February 16th, 2012

GM records its highest profit ever: $7.6 billion

Follow us on Twitter for the latest breaking news

DETROIT — General Motors earned its highest profit ever last year.

The 103-year-old company made $7.6 billion in 2011, up 62 percent from 2010.

Full-year revenue rose 11 percent to $105 billion.

North America led the way with a $7.2 billion pretax profit. But problems surfaced that could hurt future earnings. GM lost $700 million before taxes in Europe, and lost $100 million in South America.

GM'S fourth-quarter profit was flat with 2010. GM earned $500 million, or 28 cents per share. Revenue rose 3 percent to $38 billion. Before one-time items, GM earned 40 cents per share

Analysts expected earnings of 42 cents on revenue of $37.9 billion.

The company says union workers will get $7,000 profit-sharing checks.

about Associated Press...

The Associated Press

Other National Articles

videos »         

photos »         

e-edition »

advertisement
advertisement

Find a Business

400 East 11th St., Chattanooga, TN 37403
General Information (423) 756-6900
Copyright, Permissions, Terms & Conditions, Privacy Policy, Ethics policy - Copyright ©2014, Chattanooga Publishing Company, Inc. All rights reserved.
This document may not be reprinted without the express written permission of Chattanooga Publishing Company, Inc.