General Motors Co. (NYSE: GM) Wednesday reported its fourth-quarter financial results for the period ended December 31, 2020.
Fourth-quarter adjusted earnings climbed to $1.93 per share from $0.05 per share in the year-ago quarter and far exceeded the forecast. Net income was $2.8 billion, or $1.93 per share, compared to a loss of $232 million or $0.16 per share in the fourth quarter of 2019.
The strong bottom-line performance reflects a 22% increase in total revenues to $37.5 billion, which also topped market’s projection.
The shares of GM closed the last trading session lower, but reversed the trend during the pre-market session on Wednesday and gained about 2%.
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