GM Posts Very first Financially rewarding Calendar year Since 2004
source: http://www.wealthvest.com/blog/sean-browne/gm-posts-very-first-financially-rewarding-calenda...
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General Motors posted a $510 million profit in the fourth quarter and $4.7 billion for the year as it continued an impressive comeback from bankruptcy.
The profits were fueled by strong sales in China and the U.S. as the global auto market began to recover.
GM made 31 cents per share for the quarter, which included $400 million in charges mainly for paying preferred stock dividends and buying preferred stock from the U.S. government. Without the charges, the company earned 52 cents, exceeding Wall Street’s expectations. Analysts polled by FactSet expected 49 cents per share.
The profits were fueled by strong sales in China and the U.S. as the global auto market began to recover.
GM made 31 cents per share for the quarter, which included $400 million in charges mainly for paying preferred stock dividends and buying preferred stock from the U.S. government. Without the charges, the company earned 52 cents, exceeding Wall Street’s expectations. Analysts polled by FactSet expected 49 cents per share.
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