General Motors Q1 Results Beat Street Estimates

(RTTNews) - General Motors Company (GM) Tuesday reported net income attributable to common stockholders of $3.361 billion or $3.35 per share, higher than $2.970 billion or $2.56 per share in the prior year. Earnings as well as revenue beat analysts' expectations.

Excluding one-time items, earnings were $2.789 billion or $2.78 per share, that beat the average analysts' estimates of $2.66 per share. Analysts' estimates typically exclude special items.

Operating income, however, decreased to $3.352 billion from $3.738 billion last year due to higher expenses.

Revenue for the quarter grew to $44.020 billion from $43.014 billion in the previous year. The consensus estimate was for $43.21 billion.

Total vehicle sales for the first quarter were 912,000, up from 895,000 last year.