General Motors Company (NYSE:GM) stock was up today following the release of its earnings report for the fourth quarter of 2017.
During the fourth quarter of the year, General Motors Company reported earnings per share of $1.65. This is an increase over its earnings per share of $1.28 from the same time last year. It was also a boon to GM stock by coming in above Wall Street’s earnings per share estimate of $1.38 for the quarter.
General Motors Company also reported a loss from continuing operations of $4.9 billion for the fourth quarter of 2017. This is a lesser loss from continuing operations than the $6.8 billion that it reported in the same period of the year prior.
Included in its fourth quarter of 2017 earnings report is a tax reform charge of
$7.3 billion. General Motors Company notes that this charge affected its income from continuing operations for the fourth quarter of the year.
Revenue reported by General Motors Company for the fourth quarter of the year was $37.72 billion. This is down from its revenue of $39.90 billion reported in the fourth quarter of 2016. However, it was still good news for GM stock by beating out analysts’ revenue estimate of $36.55 billion for the period.
General Motors Company notes that it sold a total of 8.9 million vehicles worldwide during the quarter. The majority of these sales came from the U.S. and China, where it sold 3 million and 4 million vehicles, respectively. This marks the first quarter that the company has sold up to 4 million vehicles in China.
GM stock was up 3% as of Tuesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.
