GM's 2011 Profit: Biggest Ever

It made $7.6B; that's up 62% over 2010
By Newser Editors and Wire Services
Posted Feb 16, 2012 7:12 AM CST
GM's 2011 Profit: Biggest Ever
In this Nov. 3, 2011 file photo, a GM employee works on a van assembly line at GM's plant in Wentzville, Mo. General Motors said today it made more money in 2011 than any year in its history.   (Jeff Roberson)

General Motors earned its highest profit ever last year. The 103-year-old company made $7.6 billion in 2011, up 62% from 2010. Full-year revenue rose 11% to $105 billion. North America led the way with a $7.2 billion pretax profit, but problems surfaced that could hurt future earnings: GM lost $700 million before taxes in Europe, and lost $100 million in South America.

GM'S fourth-quarter profit was flat with 2010, with the auto giant pulling in $500 million, or 28 cents per share. Revenue rose 3% to $38 billion. Before one-time items, GM earned 40 cents per share. Analysts expected earnings of 42 cents on revenue of $37.9 billion. The company says union workers will get $7,000 profit-sharing checks. (More General Motors stories.)

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