GE Posts Q2 Profit, Plans IPO

»General Motors Co., posted the biggest quarterly gain Thursday with 1.3 billion U.S. dollars in net profit for the April~June period, after the first quarter’s earnings of 865 million U.S. dollars.

»Output increased 47 percent year-on-year, GM said in a statement.

»Along with the strong data, the company plans to file its initial public offering as soon as today, which may raise as much as $16 billion and make the IPO the second-largest in the U.S. history, according to Bloomberg.

»GM was forced into bankruptcy last June and the U.S. government took a majority stake of 61 percent.