Published on 3rd May 2012
"General Motors reported a first-quarter profit of $1bn on strong results in North America and continuing losses in Europe. The results were 60 cents per share (about a fourth of which are still owned by taxpayers). The profit beat Wall Street analysts expectations by eight cents per share. GM was strong in North America with an operating profit of $1.7bn, but the skunk at the party was GM Europe, which lost $256m and also was responsible for a special charge of nearly $600m for a write-down of goodwill. The unit's annual loss last year was its 12th consecutive year of losses," the USA Today says.