The global market also raises General Motors. In the first quarter of 2012, the US automaker reported a net profit of one billion dollars which, on an adjusted basis, means earnings per share of $0,93. Analysts had expected $0,85 per share.
Revenues grow to $37,8 billion, against 36,2 in 2011 thanks to the good performance in North America, where pre-tax profit reached 1,7 billion dollars. The South American market was also positive, where GM reported a profit of 83 million. In Europe however, the Detroit group lost 256 million (pre-tax).
Chief Financial Officer Dan Amman, stated that GM is "reducing business complexity to cut costs while preparing for more than 20 new vehicle launches worldwide in 2012 to drive revenue this year and further into the future."
Wall Street opens flat with the Nasdaq which marks a -0,03% and Dow Jones and S&P 500 lose respectively it 0,08 and 0,25.
