General Motors Co. announced Wednesday that it lost $4.3 billion in the last half of 2009 in large part to its emergence from bankruptcy protection and repayment of government loans, according to Associated Press.
However, the automaker says it still sees a chance of being profitable in 2010.
GM said it earned $109 million in the period from Jan. 1 to July 9, under old accounting. It reported revenue of $57.5 billion for the period, compared to $47.1 billion in revenues in the period from Jan. 1-July 9.
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The federal government has given GM $52 billion in aid and has owned 61 percent of GM since its emergence from bankruptcy. Most of the remainer will be repaid when GM makes a public stock offering, but the company has pledged to repay $6.7 billion in cash.
GM made a $1 billion payment to the U.S. government in December and another $1 billion payment in March. Last month, GM's new Chief Financial Officer Chris Lidell said that the company still hopes to repay the entire $6.7 billion before June.
GM last reported earnings in November, when it said it lost $1.2 billion in the third quarter. It lost $6 billion in the first three months of 2009 before its stay in Chapter 11. It lost $31 billion in 2008.
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