GM Doubles Estimates, Hits $3.2B Profit

That whole restructuring thing continues to be working out well for General Motors: The auto behemoth posted $3.2 billion in first-quarter profits today, including a $1.5 billion one-off from the sale of its share of Delphi and its stock in a former in-house lender. The number soundly beat analyst forecasts of $1.6 billion, reports the Free-Press, and marks the fifth straight quarter in which GM posted in the black. “It’s good progress,” says CFO Dan Ammann. "It sets up a good foundation for the rest of the year." (Click to read how Chrysler did in Q1.)