AOL NEWS: With just days to go before its anticipated initial public offering of stock, General Motors reported Wednesday that it earned $2 billion in the third quarter, its most profitable this year.
The latest snapshot of the company’s financial health marks the third consecutive quarter the Detroit automaker has been profitable this year. Further, GM said it expects to turn a profit for the full year 2010 — its first since 2004.
“We’ve arrived here because we continue to deliver on our major business objectives,” said CEO Daniel Akerson, during a conference call following release of the earnings. “We’ve increased our global market share relative to the first quarter and on a year-to-date basis, we have sold more vehicles in the U.S. with four brands than we did last year with eight brands.” … (more)
