Welcome, Guest Login | Signup | Portfolio | Bookmark | Contact
Markets

Symbol Name
Click for Symbol Help




GM earnings hit by European losses

CNNMoney - Oct 31, 2012

General Motors' earnings fell in the third quarter, as rising losses in Europe and lower earnings at home hurt its bottom line.

Overall, GM on Wednesday posted net income of $1.8 billion, down from $2.1 billion it earned a year earlier. But the result soundly beat forecasts of analysts surveyed by Thomson Reuters. And the company said that its pretax operating earnings in the fourth quarter should be similar or slightly better than the final quarter of last year.

GM (GM, Fortune 500) said losses in Europe soared to $478 million from $292 million a year earlier. The company warned that its full-year losses in Europe will be between $1.5 billion and $1.8 billion, and said it won't be profitable there until the middle of the decade.

But Europe wasn't the only drag on results. Operating profits in North America fell 17% to $1.8 billion. That was partly balanced by improved results in its international unit, which includes operations in China. GM once again sold more cars and trucks in China than in the United States in the period.

Read Full Article from CNNMoney

- Posted: 2012-10-31 13:18:27


 More Stock Investor Place Company News  
Alibaba's Jack Ma Is Moving On, With an IPO Looming
Pfizer’s Possible Unit Shuffle Triggers Breakup Concern
Lululemon Raises 4th-Quarter Guidance But Misses Expectations; Shares Down
Dell Shares Surge After Report of Possible Buyout
ARMZ Seeks Rest of Uranium One for $1.3 Billion; Won’t Raise Bid

 Stock Investor Place Company News Archive
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008















Featured Companies | My Place | News | Markets | Big Board | Blogs | Products & Services

Copyright 2024 Stock Investor Place Inc. All Rights Reserved.
Disclaimer - Terms of Use - Privacy Policy - Advertise