General Motors Co reported third-quarter net income of $2.16 billion, in line with preliminary results given last week, as the largest US automaker prepares for an initial public offering.
Earnings before interest and taxes rose to $2.28 billion from $2.03 billion during the previous three months of the year, the Detroit-based company said today in a statement. Revenue was $34.1 billion.
Chief Executive Officer Dan Akerson, who took over from Ed Whitacre on September 1, has said GM can make “significant” profit even amid a US auto sales rate that is running about 30 per cent slower than before the financial crisis. The automaker, 61 per cent owned by the US government, reduced costs through bankruptcy and is selling new cars for higher prices.