• May 17, 2010

General Motors said first-quarter 2010 revenue was $31.5 billion and operating income was $1.2 billion, way up from a loss of $3.4 billion in the fourth quarter of 2009. GM Europe had a loss before interest and taxes of $0.5 billion -- an improvement of $0.3 billion from the fourth quarter. GM International Operations posted EBIT of $1.2 billion, up $0.5 billion from the fourth quarter.

"We're pleased with our first-quarter performance, in particular achieving profitability," said Chris Liddell, vice chairman and CFO. "In North America we are adding production to keep up with strong demand for new products in our four brands. We're also steadily growing in emerging markets, keeping our costs under control, generating positive cash flow and maintaining a strong balance sheet. These are all important steps as we lay the foundation for a successful GM."--Karl Greenberg