Industryweek 4268 Gm Logo Promo

General Motors Earnings Drop 14%

May 2, 2013
North America's earnings were at $1.4 billion, compared with $1.6 billion last year.

NEW YORK -- On slightly weaker earnings from its North America division,  General Motors Thursday reported 14% lower profits.

GM reported net income of $865 million on revenues of $36.9 billion in the most recent quarter. That compares with net income of $1.0 billion on revenues of $37.8 billion in the year-ago period.

The breakout of GM's income by region showed North America's earnings at $1.4 billion, compared with $1.6 billion last year.

GM also reported a decline in South America from earnings of $200 million a year ago to break-even status this time. GM had losses of $200 million in Europe this time, compared with last year's loss of $300 million.

GM reported net earnings per share of 58 cents, slightly above analyst expectations of 54 cents.

Revenues were also slightly higher than the $36.6 billion seen by analysts.

Copyright Agence France-Presse, 2013

Popular Sponsored Recommendations

Digitally Transforming Data and Processes With Product Lifecycle Management

Oct. 29, 2023
Manufacturers face increasing challenges in product development as they strive to consistently deliver improved results. Discover how industry leaders are improving time-to-market...

Food and Beverage 2024 Trends and Outlook for North America

Oct. 29, 2023
Ready to hear what 200 of your peers said are the top challenges and opportunities in 2024? Don’t fall behind. Uncover actionable insights to better prepare for 2024 in this whitepaper...

Digitally Transforming Data and Processes With Product Lifecycle Management

Oct. 29, 2023
Manufacturers face increasing challenges in product development as they strive to consistently deliver improved results. Discover how industry leaders are improving time-to-market...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!