Business Standard

GM profit tops estimates, sees strong full year

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Reuters DETROIT
DETROIT (Reuters) - General Motors Co on Wednesday posted far stronger-than-expected quarterly profit and said its full-year earnings forecast would come in at the high end of its forecast due to strong demand in North America.
The Detroit automaker reported third-quarter net income of $2.53 billion, or $1.75 a share, compared with a loss last year of $2.98 billion, or $2.03 a share. Last year's quarter included a charge related to Europe.
Excluding one-time items, GM earned $1.87 a share in the third quarter, easily beating the $1.25 analysts polled by Refinitiv estimates had expected.
(Reporting by Joe White and Ben Klayman in Detroit; Editing by Nick Zieminski)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Oct 31 2018 | 5:02 PM IST

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