General Motors reports $1B 1st-quarter profit, beating expectations
The net income compares with a $3.2 billion profit a year earlier, which was boosted by $1.6 billion in special gains related to the sale of a Delphi ownership stake. Before the special gains, interest and taxes, GM made $2.2 billion last quarter, 10% higher than the first quarter of 2011, off a $1.7 billion profit in North America.
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