General Motors posts record profit

General Motors posts record profit
Thursday, February 16, 2012 - 9:16am

General Motors is posting a record profit for 2011. In an early morning filing the automaker reported a $7.6 billion profit for 2011, that's up 62% from 2010.

Overall, General Motors full year revenue was $105 billion , which is 11% higher that 2010. However, the automaker warned that this year may not be as profitable since the company is losing money in both Europe and South America.

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