GM’s First Quarter May Be Most Profitable in 11 Years on Sales

[Purveyor]

May 4 (Bloomberg) -- General Motors Co., the largest U.S. automaker, may report $1.74 billion in net income for the three months ended in March as rising sales in the U.S. and China helped the company to its best first quarter since 2000.

Earnings probably rose 63 percent from $1.07 billion a year earlier, according to the average of four analysts’ estimates compiled by Bloomberg. The results, to be released tomorrow, would be the fifth straight quarterly profit for the Detroit- based automaker since emerging from bankruptcy in July 2009.

The automaker’s performance and the market’s reaction will help determine how quickly the U.S. Treasury Department can start selling the remaining 33 percent stake held in the company. The Treasury can file to sell its shares as soon as May 22 and will track market prices after earnings are announced, a person familiar with the matter said last month.

“There needs to be some catalyst to move the stock,” said David Whiston, an analyst with research firm Morningstar Inc. in Chicago. “It will probably take several quarters of beating analyst estimates to get the stock price in the high $30s.”

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http://noir.bloomberg.com/apps/news?pid=20601109&sid=ahjBXCmGTts8&pos=10

[Tarheel_Dem]

1. You mean "Government Motors"? That's what the right was calling it.

Thank goodness we had serious people in Washington at the time of the auto bailout. A lot of credit goes to Pres. Obama and his team. :thumbsup:

[Tierra_y_Libertad]

2. I'm sure GM will happily pass along the earnings to the workers.