General Motors Co. reported preliminary non-GAAP managerial results for its first 83 days of operation, providing an initial look at its financial performance since it began operations as a new company on July 10, 2009. Managerial net loss for July 10-Sept. 30,2009 period was $1.2 billion.
GM posted revenue of $28.0 billion in the third quarter of 2009, which was up approximately $4.9 billion compared to the revenue recognized by General Motors Corporation or "Old GM," in the second quarter of 2009.
GM said that it plans to repay the United States, Canadian and Ontario government loans in quarterly installments from escrowed funds, beginning next month with an initial $1.2 billion payment to be made in December ($1.0 billion to the UST and $192 million to the EDC), followed by quarterly payments.
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