General Motors Co. Wednesday reported a $2.1 billion third-quarter profit, as it prepares for a new initial public offering as soon as next week, Bloomberg reported.
Earnings before interest and taxes rose to $2.28 billion, from $2.03 billion in the second quarter, GM said in a statement. Revenue was $34.1 billion.
GM’s North American operations’ profit before interest and taxes was $2.13 billion — a 33% increase from the second quarter’s $1.59 billion, Bloomberg reported.
The automaker, which is 61% owned by the U.S. government, reduced costs through bankruptcy and is selling new cars for higher prices, Bloomberg said.