Markets

U.S. open in 7 hrs, 50 mins
DJIA
10,464.40
30.69
 
0.29%
NASDAQ
2,176.05
6.87
 
0.32%
S&P 500
1,110.63
4.98
 
0.45%
10yr Note
100.844
0.25
 
0.25%
FTSE 100
5,194.13
-170.68
 
3.18%
Nikkei 225
9,081.52
-301.72
 
3.22%
Hang Seng
21,445.13
-765.28
 
3.45%
Euro (in USD)
1.501
-0.0129
 
0.85%
Yen (per USD)
86.40
-0.93
 
1.06%
Gold
1,178.00
-9.00
 
0.76%
Oil
75.26
-2.70
 
3.46%
Get Quote for:
Symbol
Lookup

BUSINESS NEWS

INVESTING

PERSONAL FINANCE AT WALLETPOP

SMALL BUSINESS

GM posts $6 billion loss for first quarter

AP ONLINE
Posted: 2009-05-07 07:04:00

DETROIT (AP) — General Motors Corp. says it lost $6 billion in the first quarter and spent $10.2 billion more cash than it took in, as a sales slump cut revenue by $20 billion.

The nation's biggest domestic automaker lost $9.78 per share, compared with a loss of $3.3 billion, or $5.80 per share, in the year-ago period.

GM has received $15.4 billion in federal loans and faces a June 1 government deadline to finish a restructuring plan or go into bankruptcy protection.

Revenue dropped 47 percent, to $22.4 billion from $42.4 billion in the year-ago quarter.



Bookmark:

Recent Comments

Post Your Own  

Add your own Comments

Clear
Add
DailyFinance
More DailyFinance
BloggingStocks
More at BloggingStocks.com
247WallSt.com
More at 24/7 Wall St.

Picks & More From Jim Cramer

Top Money Features

dangerous citiesAP

    Headlines From AOL Money & Finance Partners

    Financial Times
    More Financial Times
    CNBC
    More From CNBC.com
    SmartMoney.com
    More SmartMoney
    Reuters
    More Reuters

    Currently experiencing technical difficulties. Please refresh page or try again later.

    The Street.com
    More TheStreet.com