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.
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.
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