4/30, 2:05 PM (Source: TeleTrader)
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GM posts Q1 EPS of $1.48, up 92.2% YoY

General Motors Co. reported on Tuesday its diluted earnings per share of $1.48 for the first quarter of the year, which is a 92.2% increase compared to the same period in 2018. Net revenue was reported at $34.9 billion, 3.4% lower year-on-year. The carmaker's income stood at $2.1 billion, 93.2% more than the same quarter a year earlier.

The company delivered 665,00 vehicles in the United States and 814,000 in China in the first quarter.

"GM's first-quarter operating results were in line with expectations we shared in January. My confidence in the year ahead remains strong, driven by our all-new full-size truck launch and our ongoing business transformation," said Chairman and CEO Mary Barra.

Following the announcement, GM's shares dropped 1.47% in premarket trade.

Breaking the News / MD