General Motors Company Earnings: Profits Beat Wall Street

Although General Motors Company’s (NYSE:GM) net income fell in the third quarter from a year earlier, profit exceeded analysts’ expectations. General Motors develops, produces and markets cars, trucks and parts worldwide.

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General Motors Company Earnings Cheat Sheet

Results: Net income for the domestic automobiles fell to $1.48 billion (89 cents per share) vs. $1.74 billion ($1.03 per share) a year earlier. This is a decline of 14.9% from the year-earlier quarter.

Revenue: Rose 2.4% to $37.6 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: General Motors Company reported adjusted net income of 93 cents per share. By that measure, the company beat the mean estimate of 61 cents per share. Analysts were expecting revenue of $37.54 billion.

Key Stats:

The company has now topped analyst estimates for the last three quarters. It beat the mark by 15 cents in the second quarter and by 9 cents in the first quarter.

After dropping in the quarter before, revenue increased last quarter. Revenue fell 4.5% to $37.61 billion in the second quarter from the year earlier.

Looking Forward: The outlook for the company’s results in the upcoming quarter is unfavorable. The average estimate for the fourth quarter is 68 cents per share, down from 79 cents ninety days ago. For the fiscal year, the average estimate has moved down from $3.26 a share to $3.14 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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