General Motors Co. reported first- quarter net income of $865 million, helped by higher production and smaller discounts, as the maker of the GMC Terrain and the Chevrolet Equinox works toward an initial public offering.
Operating profit was $1.2 billion in the first three months of the year, and the company generated $1 billion in free cash flow, Detroit-based GM said today in a statement. Revenue rose 40 percent from the same period a year earlier to $31.5 billion.
Full story: GM Posts $865 Million Net Income in Push for Offering (Update1) – Bloomberg.com