CARS - Strong sales have boosted profits for General Motors which has earned $2 billion USD in the third quarter, enhancing the company's appeal before next week's initial public stock offering.
The third quarter profits were more than the first 6 months of 2010 combined, with a healthy chunk of the revenue in North America boosted by overseas profits. It was the 3rd straight profitable quarter for General Motors.
The IPO will help pave the way for paying off the USA and Canadian governments who bought up a large chunk of the company last year while it underwent bankruptcy.
Overall GM has made $34.1 billion USD in revenue for the July-through-September period, up 35% from the $25.1 billion in the same period last year.
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