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Demand for trucks powers General Motors' better-than-expected profit in Q3

The automaker said adjusted earnings per share came to $2.83 in the quarter, beating an analyst consensus estimate for $1.45 a share

The GM logo is seen at the General Motors Warren Transmission Operations Plant in Warren, Michigan. Photo: Reuters
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The GM logo is seen at the General Motors Warren Transmission Operations Plant in Warren, Michigan. Photo: Reuters

David Welch | Bloomberg Detroit
General Motors Co. reported a better-than-expected profit in the third quarter as strong demand for trucks powered its recovery from a slump in sales earlier this year.

The automaker said adjusted earnings per share came to $2.83 in the quarter, beating an analyst consensus estimate for $1.45 a share. That was up from $1.72 a year ago and better than the second quarter, when GM posted its first loss in more than a decade.

GM swung back into the black as its plants resumed production following a six-week springtime shutdown due to the coronavirus and as more pandemic-weary buyers snapped up vehicles