Welcome Back, General Motors!


We told ya GM was gonna buck the media narrative last night. What with the boost in global sales numbers, we felt that glimmer of hope — that feeling deep down in our cockles — maybe GM's ready to turn the corner. Although today's reported losses of $323 million, or 57 cents per share look bad at first glance, ya have to remember they're really net loss numbers. Once you strip away all the pesky details like one-time items, GM actually reports a profit of 26 cents a share, beating analyst's estimates of a loss of 44 cents. Way to go, GM! We swear we knew you could get yourself to sorta-profitability via generally accepted accounting principles.

GM quarterly results beat Wall Street estimates [Freep]

Related:
Holy Global Performance! GM Vehicle Sales Up! [internal]