General Motors Company Earnings Cheat Sheet: Profits Nearly Double

General Motors Company (NASDAQ:GM) reported strong results for the second quarter, posting big gains in net income and revenue, beating analyst predictions on both measures.

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General Motors Company Earnings Cheat Sheet for the Second Quarter

Results: Net income for the company was $2.5 billion ($1.54 per share) vs. $1.3 billion ($0.85 cents per share) a year earlier.

Revenue: Rose to $39.4 billion vs. $33.2 billion in the year ago quarter, an 18.7% rise.

Quoting Management: “GM’s investments in fuel economy, design and quality are paying off around the world as our global market share growth and financial results bear out,” said Dan Akerson, chairman and CEO. “Our progress has been steady and we’re preparing to launch more new products this year, including the Chevrolet Sonic in North America, the Opel/Vauxhall Zafira in Europe and the Baojun 630 in China to keep the momentum going.”

Actual vs. Wall St. Expectations: GM beat the mean analyst estimate of $1.20 per share. It also surpassed revenue expectations of $36.74 billion.

Key Stats:

The company has now topped analyst estimates for the last three quarters. It beat the mark by one cent in the first quarter and by 5 cents in the fourth quarter of the last fiscal year.

Competitors to Watch: Ford Motor Company (NYSE:F), Toyota Motor Corp. (NYSE:TM), HONDA MOTOR CO., LTD. (NYSE:HMC), Tesla Motors Inc (NASDAQ:TSLA), Tata Motors Limited (NYSE:TTM), Spartan Motors, Inc. (NASDAQ:SPAR), and Federal Signal Corporation (NYSE:FSS).

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock >>

(Source: Xignite Financials)

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