GM announced $3.2 billion profit in the first three months of 2011, for its fifth-straight quarterly profit, including $1.5 billion from one-time charges that included the sale of GM’s stake in Delphi and preferred stock in former in-house lender Ally Financial.
But even excluding those items, profit was $2 billion before interest and taxes, beating analysts expectations of about $1.6 billion and up from $1.7 billion in the quarter a year ago. It was also GM's biggest profit since earning $1.8 billion in the second quarter of 2000.
GM sold 2.2 million vehicles globally, helping to lift revenue 15% to $36.2 billion, about $600 million more than analysts were expecting.
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