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.

If you liked the article, share on:

Topics: gm, united states

Comments

Recommended

There is no question that the new BMW M5 (F90) high performance sports sedan is more powerful, faster and more enticing than the previous model. But for interested customers in...
by - November 23, 2017
Following the Tesla Roadster’s electrifying revelation on Thursday, Musk’s highly ambitious goals have skyrocketed when he tweeted about his future plans for the new sports car. Well, kind of. The...
by - November 23, 2017
Earlier in November at the 2017 SEMA Show in Vegas is when Hennessey unwrapped the Venom F5 to all of us. But it was actually first introduced as a concept...
by - November 22, 2017
Mercedes-Benz just made an announcement that the 2018 E Class Cabriolet has finally landed in the United States. If you had not known, the E Class will be positioned in...
by - November 22, 2017
After a somewhat successful fray into the automotive market in China, the resurrected German automobile brand Borgward is finally heading to Europe, bringing along with it the Borgward BX7 sports...
by - November 22, 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