General Motors Company (GM) announced a rise in its profits for the fourth quarter, an increase from the previous year and exceeding Wall Street predictions.
The automaker's net income for the period was $2.10 billion, or $1.59 per share, up from last year's fourth quarter results of $2.00 billion, or $1.39 per share. After taking into account extra items, General Motors revealed adjusted earnings per share of $1.24 for this quarter.
On average, market analysts anticipated that the company would yield earnings of $1.16 per share, as collated by Thomson Reuters. It's noteworthy that these figures generally discount any unique, non-recurring items.
There was a slight dip in the company's revenue for the quarter, dropping by 0.3% to $42.98 billion compared to $43.11 billion in the same period last year.
To summarise General Motors' fourth quarter performances in line with Generally Accepted Accounting Principles (GAAP):
- The company posted earnings of $2.10 billion, an increase from $2.00 billion last year.
- Earnings per share (EPS) were $1.59, up from $1.39 last year.
- This beat the analyst estimate of $1.16.
- Revenue was $42.98 billion compared to $43.11 billion last year.
