from:GM posts quarterly net loss of $4.8 bln [Reuters, 8:02AM Jan 26, 2006]
do I smell bankruptcy ?
uh...
.Reuters
GM posts quarterly net loss of $4.8 bln
Thursday January 26, 8:02 am ET
DETROIT (Reuters) - General Motors Corp. (NYSE:GM - News) on Thursday posted a quarterly net loss as it struggled with high costs, shrinking market share and sluggish sales of sport utility vehicles.
The world's largest automaker reported a fourth-quarter net loss of $4.8 billion, or $8.45 a share, compared with a loss of $99 million, or 18 cents a share, a year earlier.
Excluding one-time items, the company posted a loss of $2.09 a share. On that basis, analysts, on average, expected a loss of 4 cents a share, according to Reuters Estimates.
Revenue fell to $51.2 billion from $51.4 billion a year earlier.
The auto giant has been facing high labor and raw materials costs, loss of market share to foreign rivals, and disappointing sales of high-profit SUVs
do I smell bankruptcy ?
uh...