GM posts $1.33 bn profit in sign of growing strength

DETROIT: General Motors Co says it made $1.33 billion in the second quarter, a sign of growing strength as the company prepares to sell stock to the public.

It's GM's second straight quarterly profit. The company made $865 million in the first quarter.

CEO Ed Whitacre says GM is eager to sell the stock so it can pay off $43.3 billion in government loans that were converted into a large stake in the company. No date has been set for the sale.

GM has been majority-owned by the government since it left bankruptcy protection in July of 2009.

Second-quarter revenue was $33.17 billion, up 5.3 per cent from the first quarter on strong sales in China and US. sales of revamped cars and trucks.