General Motors reported third-quarter earnings on Tuesday and at $1.72 per share on a diluted-adjusted basis, they beat analysts’ expectations of $1.44 per share.
Revenue was $42.8 billion for the quarter.
CFO Chuck Stevens pointed to a strong performance in both the US and China. “We’re very pleased with the results,” he said.
He highlighted the continuing popularity of pickup trucks and SUVs for GM’s ongoing success in its most important market and stressed that GM expects to sustain “10-plus-percent margins in North America.”
Stevens did not say that GM would be able to grow profits in the current US market, but is instead focused in sustaining its current targets for its margins.
GM shares closed at $33 on Monday, up about 3%. The stock was flat in pre-market trading on Tuesday.
- Markets Insider