General Motors has announced third
quarter net income attributable to common stockholders of $1.5 billion (about
R13 billion), or $0.89 per fully diluted share including the impact of special
items, which reduced net income by $0.1 billion and diluted earnings per share
by $0.04. In the third quarter a year
ago, GM’s net income attributable to common stockholders was $1.7 billion
(R14.8 billion), or $1.03 per fully diluted share.
Net revenue in the third quarter of
2012 was $37.6 billion (about R326 billion) compared with $36.7 billion a year
ago. Earnings before interest and tax
(EBIT) adjusted was $2.3 billion (almost R20 billion) compared with
$2.2 billion a year ago.
“GM had a solid quarter because
customers around the world love our new vehicles and we’re also seeing green
shoots take hold on tough issues like complexity reduction, pensions and
Europe,” said Chairman and CEO Dan Akerson.
“We are going to keep playing offense with growth products like the
Chevrolet Onix, Opel Mokka and Cadillac ATS and continue to systematically
address business risks.”
Senior Vice President and CFO Dan
Ammann added, “While we still have a lot of work to do, especially in Europe,
it is encouraging to see our results begin to reflect the discipline we are
bringing to bear on the overall business.”
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