Chrysler has turned its first profit since leaving bankruptcy two years ago. The company reported first-quarter net income of $116 million and revenue of $13.1 billion on Monday. The profit is a milestone in Chrysler's long road back to health after its 2009 bankruptcy. It last reported a net profit in 2006.
Chrysler's return to profitability is also another chapter in the comeback of the Detroit Three automakers. General Motors Co., which also went into bankruptcy in 2009 and took government loans, has reported a string of profitable quarters and held an initial public offering in November. Ford Motor Co., which didn't take bailout money but nearly had to file for bankruptcy five years ago, reported its eighth consecutive quarterly profit last week.