GM Expected to Snap String of Losses

By: Associated Press
By: Associated Press

General Motors says it will release its quarterly and full-year financial results on Wednesday. The move comes after delays due to accounting troubles.

The world's largest automaker says it will file the fourth quarter and 2006 earnings before the opening of trading on the New York Stock Exchange on Wednesday.

GM is expected to post a fourth-quarter net profit. That's expected to be good news for the company after it posted a three billion dollar loss during the first nine months of last year.

The Detroit-based company has needed extensions from federal regulators because of accounting problems.

Shares of GM were up 25 cents, or 0.77 percent, to 31 dollars and 24 cents in afternoon trading on the New York Stock Exchange.

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