General Motors Company (NYSE:GM) Earning Improve For Q3

Boston, MA 11/01/2013 (wallstreetpr) – General Motors Company (NYSE:GM) continue to do well in the market after the hard felt economic meltdown. The mega car manufacturing company in the US recorded adjusted earnings for the third quarter at a high of $1.6 billion or 96 cents a share. The company recorded excellent results in all its business operations in the third quarter with only international operations performing slightly below per. Revenues in the third quarter grew by 3.7% to clock at $39 billion an improvement compared to Zacks Consensus estimates of $38.7 billion.

 Worldwide sales of vehicles grew by 0.5% enabling the company to sell 1.6 million cars with worldwide wholesale units rising by 5.5% to a high of 2.4 million vehicles. General Motors worldwide market share improved slightly to 11.7% from 11.6% the same quarter a year ago. The company adjusted earnings for the third quarter grew by 13% to clock a high of $2.6 billion from $2.3 billion Q3 F2012. The company operating profit  grew by 40.7% from $1.6billion a year ago the. GM reported earnings rise of 5.2% to clock revenues of $23.5 billion  with its adjusted EBIT increasing by 29.4% to $2.2 billion.

 Q3 saw General Motors accumulating cash and cash equivalent of $20.4 billion compared to cash net of $18.4 billion on December 31 2012. During the third quarter the company was able to post cash flow of $3.3 billion from its main automotive operations an increase from $3.1 billion that was posted the same quarter a year ago. The company free cash flow stood at $1.3 billion after deducting its capital expenditure that totaled $1.9 billion. The only bad news out of General Motors at the moment is the $9.7 billion loss that the US government is reporting out of the company. The US Government had bailed the company in 2009 for a total of $49.5 billion.

Published by Brendan Byrne

While studying economics, Brendan found himself comfortably falling down the rabbit hole of restaurant work, ultimately opening a consulting business and working as a private wine buyer. On a whim, he moved to China, and in his first week following a triumphant pub quiz victory, he found himself bleeding on the floor based on his arrogance. The same man who put him there offered him a job lecturing for the University of Wales in various sister universities throughout the Middle Kingdom. While primarily lecturing in descriptive and comparative statistics, Brendan simultaneously earned an Msc in Banking and International Finance from the University of Wales-Bangor. He's presently doing something he hates, respecting French people. Well, two, his wife and her mother in the lovely town of Antigua, Guatemala. You may contact Brendan via his email (brendanbyrne@wallstreetpr.com) or his Google+ page (https://plus.google.com/u/0/116608759701551457422).

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