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GM Posts Profit on Strong Truck Sales
The link looks as if will direct one to various articles as the day goes by.
31 minutes ago
GM Posts Profit on Strong Truck Sales
By Mike Colias
ANTHONY LANZILOTE/BLOOMBERG NEWS
General Motors Co. reported a $292 million net profit in the first quarter despite a big hit from the Covid-19 fallout, as strong pickup-trucks sales and restructuring before the crisis helped it avoid quarterly losses suffered by its Detroit rivals.
GM said pretax profit, excluding one-time items, was $1.25 billion for the first quarter, down 46% from the previous-year period. The company cited a $1.4 billion impact from the pandemic, which forced the closure of factories in China for much of the quarter, as well as about 10 days of downtime in North America.
GM shares rose about 3% in premarket trading Wednesday.
Companies
GM Posts Profit on Strong Truck Sales
By Mike Colias
ANTHONY LANZILOTE/BLOOMBERG NEWS
General Motors Co. reported a $292 million net profit in the first quarter despite a big hit from the Covid-19 fallout, as strong pickup-trucks sales and restructuring before the crisis helped it avoid quarterly losses suffered by its Detroit rivals.
GM said pretax profit, excluding one-time items, was $1.25 billion for the first quarter, down 46% from the previous-year period. The company cited a $1.4 billion impact from the pandemic, which forced the closure of factories in China for much of the quarter, as well as about 10 days of downtime in North America.
GM shares rose about 3% in premarket trading Wednesday.
Companies
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