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GM profits down 90 percent in first quarter

General Motors' first-quarter profit fell 90 percent compared with a year ago, according to the Associated Press.
The company cited losses in the home lending operations of its former financial arm.
It was the second consecutive quarterly profit for the nation's largest automaker, which said in Thursday's report it had record vehicle sales worldwide and improvements in its automotive operations in the latest quarter.
But the profit of $62 million, or 11 cents a share, for the January-March period was down from $602 million, or $1.06 per share, a year ago.

Posted by   at 9:55 AM to Companies | Permalink

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