NEW YORK (CNNMoney.com) - General Motors returned to profitability in the first three months of the year, the automaker's first profit since 2007.

The company, which emerged from bankruptcy last July, earned $865 million in the period, on revenue of $31.5 billion. A year ago the predecessor company lost nearly $6 billion on revenue of only $22.4 billion, as sales plunged and the company hurdled toward bankruptcy.

GM had reported losses the two previous quarters since emerging from bankruptcy, but the profit in the most recent period was expected.

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