General Motors Earnings: Here’s Why Shares are Up
General Motors Corporation (NYSE:GM) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.3%.
General Motors Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.48 in the quarter versus EPS of $0.39 in the year-earlier quarter.
Revenue: Rose 3.45% to $39.3 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: General Motors Corporation reported adjusted EPS income of $0.48 per share. By that measure, the company missed the mean analyst estimate of $0.51. It beat the average revenue estimate of $39.14 billion.
Quoting Management: “We recorded another solid year in 2012 as we grew the business, delivered a third-straight year of profitability and took significant actions to put the company on a solid path for future growth,” Akerson, CEO, said in a statement.
Key Stats (on next page)…
Revenue increased 4.59% from $37.58 billion in the previous quarter. EPS decreased 48.39% from $0.93 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.75 to a profit $0.64. For the current year, the average estimate is a profit of $3.26, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)