Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

General Motors Q1 Profit Slumps - Quick Facts

General Motors Co. (GM: Quote, GMM.TO) reported a fall in first-quarter net income attributable to common stockholders to $1.0 billion, or $0.60 per share from $3.2 billion, or $1.77 per share in the year-ago quarter. The company said latest quarter's results include a net loss from special items related to goodwill impairment that reduced net income by $0.6 billion, or $0.33 per share.

On average, 16 analysts polled by Thomson Reuters expected earnings per share of $0.85 for the quarter. Analysts' estimates typically exclude one-time items.

Revenue for the recent quarter totaled $37.8 billion, compared with $36.2 billion in the previous year. Eight analysts estimated revenues of $37.59 billion for the quarter. Adjusted earnings before interest and tax or adjusted-EBIT were $2.2 billion, an increase of $0.2 billion compared with $2.0 billion in the first quarter of 2011.

With the strengthening U.S. economy helping release pent-up demand, GM currently expects full-year 2012 U.S. light vehicle sales to be in the 14.0 million - 14.5 million range. Previously, the company expected sales to fall between 13.5 million - 14.0 million units.

Based on the company's current forecast, GM North America's results for the second and third quarters of 2012 are expected to be comparable to the first quarter of 2012, due to the scheduled downtime at factories that produce full-size trucks.

Register
To receive FREE breaking news email alerts for and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Yukiya Amano, Director General of the International Atomic Energy Agency (IAEA), said Monday that nuclear programs of the Democratic People's Republic of Korea (DPRK) and Iran remain matters of serious concern. The head of the United Nations nuclear watchdog made the remarks at the opening of the... Stocks largely turned in a lackluster performance during trading on Monday, as traders looked ahead to the Federal Reserve's monetary policy announcement later this week. Technology stocks saw significant weakness, however, resulting in a sharp drop by the tech-heavy Nasdaq. While most Americans support President Barack Obama's decision to take action against the terrorist group ISIS, the results of a new NBC News/Wall Street Journal/Annenberg poll found that the vast majority lack confidence that the U.S. will achieve its goals.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.