Categories AlphaGraphs, Earnings, Other Industries
GM Earnings: General Motors Q3 revenue drops 25%, but beats estimates
General Motors Co. (NYSE: GM) on Wednesday reported lower revenues and earnings for the third quarter of 2021. However, the results beat analysts’ estimates.
Third-quarter adjusted earnings dropped to $1.52 per share from $2.83 per share in the year-ago quarter but far exceeded the forecast. Net income was $2.42 billion, or $1.62 per share, compared to $4.05 billion or $2.78 per share in the third quarter of 2020.
The weak bottom-line performance reflects a 25% decrease in total revenues to $26.8 billion, which however topped the market’s projection.
Read management/analysts’ comments on GM’s Q3 report
The shares of GM closed the last trading session lower, but reversed the trend during the pre-market session on Wednesday and made modest gains.
Prior Performance
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
United Parcel Service (UPS) seems on track to regain lost strength
Cargo giant United Parcel Service, Inc. (NYSE: UPS) ended fiscal 2023 on a weak note, reporting lower revenues and profit for the fourth quarter. The company experienced a slowdown post-pandemic
IPO Alert: What to look for when Boundless Bio goes public
Boundless Bio is preparing to debut on the Nasdaq stock market this week, and become the latest addition to the list of biotech firms that have launched IPOs this year.
Nike (NKE) bets on innovation and partnerships to return to high growth
Sneaker giant Nike, Inc. (NYSE: NKE) has been going through a rough patch for some time, with sales coming under pressure from weak demand and rising competition. Post-pandemic, the company