GM today announced its 2006 financial results highlighting that it had its first quarterly profit in two years in the 4th quarter with $950 million. The comapny also earned a record revenue in 2006 with $207 billion. Compared with a net loss of $10.4 billion in 2005, GM made an imporvment of $8.4 billion, reporting a net loss of $2.0 billion in 2006.
“We needed 2006 to be a big year, and it was,” GM Chairman and CEO Rick Wagoner said. “Our performance last year reflects the significant progress we’ve made toward transforming GM into a more competitive, global business focused on long-term, sustainable success. The improvement is a credit to our employees, union partners, dealers and suppliers worldwide. It’s also validation that our strategy is working, and faster than many people thought possible.
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