General Motors Company (GM) Q3 2013 Revenue Hits $39 Billion
General Motors Company (NYSE:GM) has reported their Q3 2013 results. General Motors reported earnings of $0.96 per share, which beats Wall Street expectations of $0.94. GM’s revenue hit $39 billion, which was slightly below expectations of $39.38 billion.
In the same period a year ago, GM hit $37.6 billion in revenues. The earnings before interest and tax (EBIT) adjusted was $2.6 billion compared to $2.3 billion in Q3 2012. Sales in the U.S. were boosted by 18 new vehicles introduced this year including the Chevrolet Silverado.
“We made gains in the third quarter as we improved our North American margins and increased our global share on the strength of our Chevrolet brand,” stated GM chairman and CEO Dan Akerson. “Our efforts to build great cars and trucks and deliver solid financial results were recognized this quarter by Moody’s investment grade rating.”
GM ended the quarter with very strong total automotive liquidity of $37.3 billion. The automotive cash and marketable securities was $26.8 billion compared with $24.2 billion for the second quarter of 2012.
[Source: GM Earnings Release]