GM Reports Preliminary Third-Quarter Financial Results
General Motors Corp. reported improved preliminary financial results for the third quarter of 2006. The company posted a profit on an adjusted basis, excluding special items and generated its third consecutive quarter of record revenue.
DETROIT—General Motors Corp. reported improved preliminary financial results for the third quarter of 2006. The company posted a profit on an adjusted basis, excluding special items and generated its third consecutive quarter of record revenue.
GM reported a net loss of $115 million or $.20 per share, for the third quarter of 2006, compared with a loss of $1.7 billion or $2.94 per share for the quarter one year ago. The net loss for this year’s third quarter included $644 million in charges for special items, including goodwill impairment at GMAC and an increase to the charge associated with Delphi’s restructure.
GM reported 2006 third-quarter net adjusted income, excluding special items, of $529 million, or $.93 per share diluted, on revenue of $48.8 billion. These results represent a $1.6 billion improvement from the loss of $1.1 billion one year ago.
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