GM Reports 3rd Quarter Earnings

By: Assoicated Press
By: Assoicated Press

General Motors is reporting a smaller 115 million loss for the third quarter.

The world's largest automaker says it began to reap the benefits of its turnaround plan. But Wall Street did not seem particularly impressed and the company continued to see its market share erode.

The world's biggest automaker says that excluding special charges it would have earned 529 million dollars in the period.

GM's loss amounted to 20 cents per share for the July-to-September period and was far better than its loss of one-point-seven billion dollars, or two-dollars-and-94-cents per share, a year earlier.

The company says that excluding charges it earned 93 cents per share in the latest quarter.

That beat Wall Street expectations. Analysts polled by Thomson Financial predicted the company to earn 49 cents per share excluding special charges.


WILX 500 American Road Lansing, MI 48911 517-393-0110
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 4479451