(August 12, 2010) DETROIT — General Motors, poised to launch the largest public stock offering in U.S. history this year, today reported a $1.3 billion net profit for the second quarter resulting in earnings per share on a diluted basis of $2.55. 

Second-quarter revenue was $33.2 billion, up 44 percent from $23 billion in second quarter 2009. First-quarter revenues were $31.5 billion.

It was GM's largest quarterly profit since 2004.

GM’s second quarter earnings before interest and tax (EBIT) was $2.0 billion. Used as a key measure to determine the company's value, the EBITwas up 11 percent from $1.8 in the first quarter.

In North America, GM said it earned $1.6 billion before interest and taxes, up 33 percent from $1.2 billion during the first quarter.

GM said its cash flow from operations was $3.9 billion. The company said it ended the second quarter with $32.5 billion in cash.