GM North America had EBIT in the second quarter 2010 of $1.6 billion, up from $1.2 billion in the first quarter. GM Europe had a loss before interest and taxes of $0.2 billion, an improvement of $0.3 billion from the first quarter. GM International Operations posted EBIT of $0.7 billion, down from $1.2 billion in the first quarter.
Cash flow from operating activities was $3.9 billion and after adjusting for capital expenditures of $1.1 billion, free cash flow was $2.8 billion. GM ended the second quarter with $32.5 billion in cash and marketable securities, including funds in the Canadian Health Care Trust escrow.
"I am pleased with our progress on achieving our business objectives," said Chris Liddell, vice chairman and chief financial officer. "We have delivered strong product, maintained cost discipline, progressed strategic initiatives such as restructuring Europe and acquiring AmeriCredit, and delivered two consecutive quarters of profitability and positive cash flow."
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GM second quarter 2010 results show sustained progress
- United Arab Emirates: Thursday, August 12 - 2010 at 16:43
- PRESS RELEASE
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Middle East - General Motors Company today announced its second quarter 2010 results, marked by revenue of $33.2 billion and net income attributable to common stockholders of $1.3 billion, resulting in earnings per share on a diluted basis of $2.55. GM's second quarter earnings before interest and tax (EBIT) was $2.0 billion.
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About GM
General Motors, one of the world's largest automakers, traces its roots back to 1908. With its global headquarters in Detroit, GM does business in some 157 countries. GM and its strategic partners produce cars and trucks in 31 countries, and sell and service these vehicles through the following brands: Buick, Cadillac, Chevrolet, FAW, GMC, GM Daewoo, Holden, Jiefang , Opel, Vauxhall and Wuling. GM's largest national market is the United States, followed by China, Brazil, Germany, the United Kingdom, Canada and Italy.
In the Middle East since the 1920s, General Motor's vehicle brands sold in the region are Cadillac, Chevrolet, and GMC supported by a unique set of customer-focused services. GM parts and accessories are sold under the GM Parts and ACDelco brands. The regional office in Dubai covers the company's operations in Bahrain, Iraq, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria, UAE and Yemen.
For more media material about GM in the Middle East, please visit www.media.gmarabia.com
For more information:
Samer El Khalil
Tel +971(4)3143333
Marwan Abu Ghanem
Tel +971(4)4055511
General Motors, one of the world's largest automakers, traces its roots back to 1908. With its global headquarters in Detroit, GM does business in some 157 countries. GM and its strategic partners produce cars and trucks in 31 countries, and sell and service these vehicles through the following brands: Buick, Cadillac, Chevrolet, FAW, GMC, GM Daewoo, Holden, Jiefang , Opel, Vauxhall and Wuling. GM's largest national market is the United States, followed by China, Brazil, Germany, the United Kingdom, Canada and Italy.
In the Middle East since the 1920s, General Motor's vehicle brands sold in the region are Cadillac, Chevrolet, and GMC supported by a unique set of customer-focused services. GM parts and accessories are sold under the GM Parts and ACDelco brands. The regional office in Dubai covers the company's operations in Bahrain, Iraq, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria, UAE and Yemen.
For more media material about GM in the Middle East, please visit www.media.gmarabia.com
For more information:
Samer El Khalil
Tel +971(4)3143333
Marwan Abu Ghanem
Tel +971(4)4055511
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