Arab Today, arab today gm 3q profit declines to 15 bln usd
Last Updated : GMT 21:36:54
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Arab Today, arab today

GM 3Q profit declines to 1.5 bln USD

Arab Today, arab today

Arab Today, arab today GM 3Q profit declines to 1.5 bln USD

Washington - XINHUA

General Motors Co. said Wednesday it earned 1.5 billion U.S. dollars in the third quarter, down from the 1.7 billion dollars in the same period a year ago. The automaker said its results for the quarter included some special items, which cut net income by about 100 million dollars or 4 cents a share. Net revenue in the third quarter of 2012 was 37.6 billion dollars compared with 36.7 billion a year ago. Earnings before interest and tax (EBIT) adjusted was 2.3 billion compared with 2.2 billion dollars a year ago, GM said. \"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.\" GM said it expects its 2013 results in Europe to be \"slightly better\" than 2012 and break even in the region by mid-decade. Ford Motor Co. said Tuesday that it earned 1.65 billion dollars in the third quarter. Chrysler Group LLC on Monday reported earnings of 381 million dollars in the third quarter, up 80 percent from the same period a year ago.

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