GM To Release 2nd Quarter Earnings

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GM Inevitable Bankruptcy
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UPDATE: GM posts $2.5 billion Q2 profit. Read more.

DETROIT (WWJ) – General Motors will soon reveal its second quarter earnings figures. The company is expected to post its sixth post-bankruptcy profit Thursday morning.

The second quarter was a good one for GM sales – up 14 percent worldwide from last year. A good profit would boost the company’s stock, which has languished well below the price it launched at last November.

Speaking to open the auto talks last week, GM CEO Dan Akerson says they are going to post another profit. “We’ve had five successive quarters of profitability,” says Akerson, adding that he believes there’ll be a sixth. GM’s North American president Mark Reuss will speak in Traverse City to the management briefing seminars, on Thursday, talking about where the company’s business goes from here.

WWJ AutoBeat Reporter Jeff Gilbert will be following the GM earnings. They’re expected to be released at 7:30am Thursday.

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