Market Overview

General Motors' Profit Down

Share:

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.

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)

 

Related Articles (GM)

View Comments and Join the Discussion!

Posted-In: Earnings News After-Hours Center

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com