General Motors earnings report for the fourth quarter of 2018 has GM stock up on Wednesday.
General Motors (NYSE:GM) reported earnings per share of $1.43 for the fourth quarter of the year. This is down from its earnings per share of $1.65 from the same time last year. However, it was still good news for GM stock by beating out Wall Street’s earnings per share estimate of $1.22 for the quarter.
Net income reported in the General Motors earnings report for the fourth quarter of 2018 came in at $2.04 billion. This is an improvement over the company’s net loss of $5.15 billion reported in the fourth quarter of 2017.
General Motors earnings for the fourth quarter of the year also includes operating income of $3.22 billion. The automotive company’s operating income reported during the same period of the year prior was $3.43 billion.
The most recent General Motors earnings release also has it reporting revenue of $38.40 billion. This represents a 1.8% increase over the company’s revenue from the fourth quarter of the previous year. It was also a boon to GM stock by coming in above analysts’ revenue estimate of $36.48 billion for the period.
For the full year of 2019, General Motors reported earnings per share of $6.54 on revenue of $147.00 billion. These are both a blessing to GM stock by coming in above Wall Street’s earnings per share and revenue estimates of $6.32 and $145.32 billion.
GM stock was up 1% as of Wednesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.
