GM reports 2011 net income at $7.6 billion

GM Renaissance Center

General Motors announce today that its 2011 calendar-year net income attributable to common stock holders came in at $7.6 billion or $4.58 per fully diluted share, up from $4.7 billion, or $2.89 per fully diluted share, in 2010.

“Revenue increased 11 percent to $150.3 billion, compared with $135.6 billion in 2010,” GM said in a statement. “Full-year earnings before interest and tax (EBIT) adjusted was $8.3 billion, compared with $7.0 billion in 2010.”

“In our first full year as a public company, we grew the top and bottom lines, advanced our global market share and made strategic investments in our brands around the world,” said Dan Akerson, chairman and CEO.  “We will build on these results as we bring more new cars, crossovers and trucks to market, and make GM a far more efficient global team.  This includes reducing our break-even level in Europe and South America and driving higher revenues around the world.”

– By: Omar Rana