General Motors Earnings: Here’s Why Shares are Up
General Motors Corporation (NYSE:GM) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.3%.
General Motors Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.48 in the quarter versus EPS of $0.39 in the year-earlier quarter.
Revenue: Rose 3.45% to $39.3 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: General Motors Corporation reported adjusted EPS income of $0.48 per share. By that measure, the company missed the mean analyst estimate of $0.51. It beat the average revenue estimate of $39.14 billion.
Quoting Management: “We recorded another solid year in 2012 as we grew the business, delivered a third-straight year of profitability and took significant actions to put the company on a solid path for future growth,” Akerson, CEO, said in a statement.
Key Stats (on next page)…