Today General Motors announced first-quarter earning results, including a $2.0 billion net income. The net income figure is an improvement over the previous year, which was $900 million. The improved results are on $37.3 billion in quarterly revenue, up from $35.7 billion a year ago.
“We’re growing where it counts, gaining retail share in the U.S., outpacing the industry in Europe and capitalizing on robust growth in SUV and luxury segments in China,” said Chairman and CEO Mary Barra. “This strong quarter also reflects the excellent progress we’re making to improve results in our more challenged global markets. Importantly, the continued success of our core business is enabling us to invest in advanced technology and innovations that will help shape the future of personal mobility.”
In total, GM’s results reflect an overall improvement from the same period a year ago. Free cash flow and GM Europe also posted performance improvements for the quarter. It is worth noting that the same quarter a year ago was negatively impacted by GM’s ignition recall debacle.