(MENAFN- Saudi Press Agency) General Motors (GM) reported Wednesday a fourth-quarter profit of $1.99 billion.
GM said that it had a net income of 66 cents per share. When adjusted for non-recurring costs, earnings were $1.19 per share.
The company's results surpassed Wall Street's expectations. Analysts had forecast earnings of 85 cents per share.
The Detroit-based automaker posted revenue of $39.62 billion in the period, which did not meet Wall Street's forecasts.
GM shares have fallen almost 3 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has declined almost 4 percent in the last 12 months.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.