GM logs $1.5 billion net income attributable to common stockholders

Article by Anita Panait, on November 1, 2012

General Motors Co. posted $1.5 billion in net income attributable to common stockholders, or $0.89 per fully diluted share, for the third quarter of 2012. The figures included the impact of special items, which cut net income by $0.1 billion and diluted earnings per share by $0.04. The figures were also lower than the ones posted in the third quarter of 2011, when GM’s net income attributable to common stockholders was $1.7 billion, or $1.03 per fully diluted share.

GM logged $37.6 billion in net revenue in the third quarter of 2012, compared with $36.7 billion in the same period in 2011. The carmaker also posted $2.3 billion in earnings before interest and tax (EBIT) adjusted in the third quarter of 2012, compared with $2.2 billion in the same period in 2011.

GM Chairman and chief executive Dan Akerson remarked that the carmaker had a solid quarter because customers around the world love their new vehicles. He added that GM is seeing “green shoots” take hold on issues like complexity reduction, pensions and Europe.

GM Senior Vice President and CFO Dan Ammann said that the company will keep playing offense with growth products like the Chevrolet Onix, Opel Mokka and Cadillac ATS and will continue to systematically address business risks. Ammann admitted that GM still has a lot of work to do, especially in Europe, noting that it is encouraging to see the company’s results begin to reflect the discipline they bringing to bear on the overall business.

Topics: gm, united states

If you liked the article, share on:

Comments

Recommended

It’s pretty neat if you possess something of an extraordinary breed like, say, the Pagani Huayra. There are after all just a total of 100 units ever been built by...
by - April 28, 2017
If you’ve ever visited an arcade, chances are you have already seen a Logitech G920 wheel. If that doesn’t ring a bell, it’s the steering wheel that you use when...
by - April 28, 2017
Toyota Motor Corporation disclosed that it will be bringing two of its Mirai fuel cell vehicles to China by October of this year. Tests will then be conducted on these...
by - April 28, 2017
Jaguar fans, as well as auto enthusiasts in general, has a reason to celebrate this week as the brand gave everyone a peek of the new 2018 XF Sportbrake. This...
by - April 28, 2017
BMW has revealed that its i brand has partnered with TED in order to launch a worldwide search of unique ideas under the title “NextVisionaries.” This brand has long been...
by - April 28, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries