Breaking: GM Nets $4.7 Billion in 2010, First Full-Year Profit Since 2004
DETROIT – General Motors reported net income of $4.7 billion for 2010, just short of analysts’ predicted $5.0 billion. It’s GM’s first full-year profit since 2004, when it reported $3.6 billion in net income on top of a sharp fourth-quarter drop. For the fourth quarter of ’10, GM reports net income of $500 million
Like Ford, GM spent heavily on new product development in the fourth quarter, hitting its profit margins. Unlike Ford, GM is essentially a new company, after a $23 billion initial p…
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