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Rising prices, margins drive GM's third quarter

General Motors swings to 3Q profit on higher car prices, truck sales

Reported by: AP [ Published on: October 31, 2018 17:45 IST ]
Image Source : AP Rising prices, margins drive GM's third quarter

NEW YORK (AP) — General Motors swung to a third-quarter profit and blew past Wall Street expectations on rising prices in North America and surprising resilience in China.

The automaker reported $2.5 billion in profits Wednesday, or $1.75 per share, far exceeding analyst projections for per-share earnings of $1.25.

Revenue jumped 6.4 percent to $35.8 billion, also topping forecasts. The Detroit auto maker is posting record equity income for the third quarter in China despite potentially declining conditions there and rising trade tensions.

Disclaimer: This is unedited, unformatted feed from the Associated Press (AP) wire.

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