GM Records its Highest Profit Ever: $7.6 Billion

By: Associated Press

Posted: Thu 6:53 AM, Feb 16, 2012

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.

Shelton, Underwood Coming to Aid of Oklahomans

We ask that the following Community Standards be followed:

Comments must not be profane or vulgar.

Comments must not use hate speech, racial slurs, or violent descriptions.

We encourage varying views to be shared. We do ask commenters to not personally attack other readers, groups, people featured in our stories, or other posters for disagreeing with their views.

Comments must not contain negative, comparative debates between community standards of cities or towns.

Comments must contribute to the discussion, flaming and/or trolling will not be tolerated.

Comments must be truthful and not intentionally falsified. Providing a source link is encouraged.

If you find that a comment violates the above rules, please use the flagging option located to the right of the comment to notify the moderators.
For a complete list of guidelines, please follow this link:
http://www.kbtx.com/home/misc/Online-Commenting-Policy-181579421.html

GM Records its Highest Profit Ever: $7.6 Billion

AP Video