By Sholnn Freeman
Washington Post Staff Writer
Tuesday, July 31, 2007; 12:14 PM
General Motors today posted second-quarter profit of $891 million, reversing course from a year ago when heavy North American restructuring costs resulted in billions of dollars in red ink.
The morning's report marked the American auto giant's third straight quarterly profit and beat estimates by financial analysts. GM's shares climbed 4.4 percent to $34.04 in New York Stock Exchange trading, leading a broad advance in U.S. stocks.
GM's performance was boosted by the profitability of its international divisions. GM's core North American division -- although financially healthier than a year ago -- lost $39 million from continuing operations in the second quarter.
Rick Wagoner, GM's chairman and chief executive, cautioned that in the outlook for the U.S. economy and the domestic auto market remained challenging. Wagoner, in a statement, said the North American division's current earnings "clearly demonstrate that we've got work to do."
Link:
http://www.washingtonpost.com/wp-dyn/content/article/2007/07/31/AR2007073100447.html?hpid=moreheadlines**********************************************************************************
First Ford, now GM. Outstanding! :thumbsup: