Daily Management Review

GM doubles net profit in Q1


Net profit of the American automobile concern General Motors (GM) attributable to shareholders of the company, according to the results of the first quarter of 2019 increased 2.1 times in annual terms and amounted to $ 2.157 billion, the company said.

The diluted earnings per share for the quarter was $ 1.48 against $ 0.72 a year earlier. The adjusted figure was $ 1.41 against the forecast of $ 1.11 per share. The total revenue of the company at the same time amounted to $ 34.878 billion, which is a decrease of 3.4% compared with the previous year.

"GM's Q1 operating results are in line with our January projections," said GM CEO Mary Barra, whose words appear in the company's release.

Car sales in the world in Q1 amounted to 1.879 million units, which is 10.4% less compared to the same period in 2018. The decline is observed in all major regions.

GM produces cars and trucks in 30 countries, sells and carries out maintenance in 140 countries. The headquarters of the concern is located in Detroit, Michigan.

source: bloomberg.com