GM posts $2B profit, expects decline
Nov 10, 2010 | 12:16 PM
| Corinna Petry
General Motors Co. posted net income of nearly $2 billion for the third quarter on revenue of $34.1 billion, the third successive quarterly earnings increase, but executives warned that fourth-quarter results would be lower.
"While we expect positive Ebit (earnings before interest and taxes) in the fourth quarter, they will be significantly lower than the run rate of the first three quarters," chief executive officer Dan Akerson said during the Detroit-based automaker's quarterly conference call, citing a different production mix, new vehicle launch costs and increased engineering expenses in support of future models.....
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