3 Key Takeaways From GM's Q3 Earnings
General Motors (NYSE: GM) stock jumped 5% after its third-quarter earnings and revenue surpassed expectations. The carmaker reported earnings per share of $1.72, beating estimates of $1.31 projected by Wall Street analysts. GM also had $35.5 billion in revenue, exceeding the expected $33.8 billion. The corporation's latest earnings report revealed some important insights for investors.
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While GM had better-than-expected earnings, the month-long United Auto Workers strike did drag down results. Because of the national work stoppage, adjusted earnings per share were reduced by $0.52. GM's North American revenue could potentially have been $3.3 billion higher if the union strike hadn't happened. EBITDA also took a $1 billion hit.
Source Fool.com
