General Motors’ First-Quarter Loss Narrows
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Besides automobiles, GM also makes light and medium-duty trucks in Classes 2-7.
eneral Motors Corp. reported a narrower first-quarter loss than last year and beat analysts’ estimates pulling in record revenue, Bloomberg reported.
GM took its sixth straight quarterly loss in reporting a $323 million or $57 cents per-share loss, compared with losing $1.25 or $2.22 a year earlier.
evenue rose 14% to $52.2 billion, a record. The No. 1 automaker turned its first profit in Europe since 2000, Bloomberg reported.
Chief Financial Officer Fritz Henderson said GM was “confident” the company would be able to avoid a strike at Delphi Corp, its bankrupt supplier and former unit, Bloomberg reported.
