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General Motors Company (NYSE: GM) announced its results for the third quarter on November 9, 2011. Let's take a closer look at the company's industry, financials, and commentary and see what steps you can take next.
Earnings and Revenue:
General Motors Company's EPS outpaced analyst estimates while the company's revenues came in line with predictions. The company reported EPS of $1.03/share versus the 99 cents/share estimate and revenues of $36.7 billion versus the $36.66 billion estimate.
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Income:
Over the past year, General Motors Company reported net income of $4.04/share. The company trumped analyst projections of $3.94 by 2.5%. The company's income fell 15% from last year's levels.
Conference Call:
The conference call for third quarter earnings can be accessed here.
Official Comment:
"GM delivered a solid quarter thanks to our leadership positions in North America and China, where we have grown both sales and market share this year. But solid isn't good enough, even in a tough global economy," said Dan Akerson, chairman and CEO. "Our overall results underscore the work we have to do to leverage our scale and further improve our margins everywhere we do business."
Industry:
With price/earnings growth of 0.6%, General Motors Company's industry, domestic automobiles, is expanding.
What to Do Next:
Now that you've gotten a round up of General Motors Company's latest numbers, you can make a better-informed decision about whether to buy, sell, or hold those shares. Whatever you do, be sure to visit us before the company's next earnings release for a full preview.
- To see up-to-date news on General Motors Company, click here
- To see other trading ideas, click here
- To see other company earnings recaps, click here
(Estimates Source: Zacks)
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.