GM announces $891M profit

General Motors (GM) has bounced back to report a second quarter 2007 profit of $891 million, compared to the $3.4 billion net loss reported in the year-ago quarter. After undergoing several restructuring changes, the automotive manufacturer has also announced an increase in its second quarter net income from $1.1 billion in 2006 to $1.4 billion this year. GM Vice Chairman and CFO Fritz Henderson says while the results are good, they are still unsatisfactory. Henderson says there is a real opportunity for further growth in the business and GM must focus on future expansion.