US automaker GM reports losses of $6 billion
Thursday, May 7, 2009 United States automobile company General Motors announced it has lost US$6 billion in the first quarter of 2009, amidst heavy declines in revenues. Not including special items, the firm said it had lost a net $5.9 billion dollars, or $9.66 per share. In the first quarter of last year, GM had reported a loss of $381 million, or $0.67 per share. Most financial analysts had forecast the automaker’s losses to be over $6.7 billion, or $11.05 per share. GM had also reported that it had spent…
Read More