General Motors Company (NASDAQ:GM) reported its results for the first quarter.
General Motors Company Earnings Cheat Sheet for the First Quarter
Results: Net income for the company rose to $3.2 billion ($1.77/share) vs. $0.9 billion ($0.55 cents/share) the year earlier. A more than three-fold rise.
Revenue: Rose to $36.2 billion from $31.5 billion a year ago.
Actual vs. Wall St. Expectations: GM beat the mean analyst estimate of 93 cents/share. Estimates ranged from 64 cents per share to $1.29 per share.
Quoting Management: “We are on plan,” said Dan Akerson, chairman and CEO. “GM has delivered five consecutive profitable quarters, thanks to strong customer demand for our new fuel-efficient vehicles and a competitive cost structure that allows us to leverage our strong brands around the world and focus on driving profitable automotive growth.”
Competitors to Watch: Ford Motor Company (NYSE:F), Toyota Motor Corp. (NYSE:TM), HONDA MOTOR CO., LTD. (NYSE:HMC), Daimler AG (DDAIF), Nissan Motor Co., Ltd. (NSANY), Tesla Motors Inc (NASDAQ:TSLA), Volkswagen AG (VLKAY), Tata Motors Limited (NYSE:TTM), Spartan Motors, Inc. (NASDAQ:SPAR), and Federal Signal Corporation (NYSE:FSS)
Stock Performance: Shares of GM are trading at $32.13 as of May 5, 2011 at 9:55 AM ET, down 2.75% from the previous close.