May 17, 2010 9:00 AM, EDT

GM Sees First Profit Since 2007

General Motors Co. said Monday it earned $865 million in the first quarter, its first quarterly profit since 2007.

The auto maker lost $6 billion in the first quarter of 2009, before its government-funded bankruptcy, the Wall Street Journal reported. Revenue grew 40% from a year ago to $31.5 billion.

GM had an operating profit of $1.2 billion and made $1 billion in cash, the Wall Street Journal.

The results were driven by increased production in North America, as well as growth in emerging markets worldwide, the Journal said, quoting Chief Financial Officer Chris Liddell.

GM received $50 billion in U.S. government loans last year. It has paid back $6.7 billion of those loans ahead of schedule.