General Motors Company Q3 Profit Decreases, but beats estimates

(RTTNews) - General Motors Company (GM) released earnings for third quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $3.06 billion, or $2.20 per share. This compares with $3.31 billion, or $2.25 per share, in last year's third quarter.

Excluding items, General Motors Company reported adjusted earnings of $3.14 billion or $2.28 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 5.3% to $44.13 billion from $41.89 billion last year.

General Motors Company earnings at a glance (GAAP) :

-Earnings (Q3): $3.06 Bln. vs. $3.31 Bln. last year. -EPS (Q3): $2.20 vs. $2.25 last year. -Analyst Estimates: $1.88 -Revenue (Q3): $44.13 Bln vs. $41.89 Bln last year.