GM reports Q3 profit of $1.96 billion, best quarter since 1999
General Motors today reported its best quarter since 1999, hopefully grabbing the attention of investors before it begins selling shares to the public once again.
“As demonstrated by our third consecutive quarter of profitability and positive cash flow, these results continue our significant progress,” said Chris Liddell, vice chairman and chief financial officer.
GM said that it earned $1.96 billion in the quarter. The company also generated:
- Revenue of $34.1 billion
- Net income attributable to common stockholders of $2.0 billion
- Earnings per share on a fully diluted basis and adjusted for 3-1 stock split of $1.20
- Earnings before interest and tax (EBIT) of $2.3 billion
- Net cash flow from operating activities of $2.6 billion
- Free cash flow of $1.4 billion
– By: Omar Rana
