General Motors Company Q3 Profit Increases, beats estimates

(RTTNews) - General Motors Company (GM) announced earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $3.31 billion, or $2.25 per share. This compares with $2.42 billion, or $1.62 per share, in last year's third quarter.

Excluding items, General Motors Company reported adjusted earnings of $3.33 billion or $2.25 per share for the period.

Analysts on average had expected the company to earn $1.88 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 56.4% to $41.89 billion from $26.78 billion last year.

General Motors Company earnings at a glance (GAAP) :

-Earnings (Q3): $3.31 Bln. vs. $2.42 Bln. last year. -EPS (Q3): $2.25 vs. $1.62 last year. -Analyst Estimate: $1.88 -Revenue (Q3): $41.89 Bln vs. $26.78 Bln last year.

-Guidance: Full year EPS guidance: $6.50 - $7.50