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MENAFN - 01/11/2012

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(MENAFN) General Motors Co. (GM) announced that its third-quarter profits fell to USD1.5 billion, compared with last year's same period of USD1.7 billion, reported Xinhua News.

Chairman and CEO Dan Akerson stated that the quarter's results included some special items, which reduced net income by nearly USD100 million.

The carmaker's earnings before interest and tax (EBIT) reached USD2.3 billion up from USD2.2 billion in 2011's same period.

In the quarter, net revenue grew to USD37.6 billion, up from USD36.7 billion in last year's same 3-month period.

It is worth noting that the US company forecasts its results in Europe to improve next year and break even by mid-decade.

 






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