General Motors first-quarter profit tops analysts’ estimates

General Motors Co, the world’s largest automaker, said first-quarter profit topped analysts’ estimates as the company sold more vehicles globally.

Excluding some items, profit slipped to 93 cent a share, down from 95 cent a year earlier and beat the 85-cent average estimate of 16 analysts surveyed by Bloomberg. Net income slid 61% to $1.32bn (€1bn) from $3.37bn a year earlier, Detroit-based GM said yesterday.

“This is a solid quarter,” chief financial officer Dan Ammann said. “Revenue growth, profit growth, margin growth, cash-flow improvement, another step in the right direction.”