GM Profits Beat Estimates And The Stock Is Up

General motors

General Motors reported Q3 earnings of $US0.96 per share, beating analysts expectations for $US0.94 per share.
Revenue came in just shy of expectations at $US39 billion. Analysts were looking for $US39.38 billion.

U.S. sales were boosted by 18 new products introduced this year including the Chevrolet Silverado.

“We made gains in the third quarter as we improved our North American margins and increased our global share on the strength of our Chevrolet brand,” said Dan Akerson, GM chairman and CEO in a press release.

“Our efforts to build great cars and trucks and deliver solid financial results were recognised this quarter by Moody’s investment grade rating.”

General Motors said North America margins were the highest they’ve seen in “quite some time.”

The stock was up 1% in the pre-market before the release. It is now up 2.3%.

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