GM Is Poised for a Great 4th Quarter
In early November, General Motors (NYSE: GM) stunned Wall Street by reporting an unprecedented $5.3 billion adjusted operating profit for the third quarter. Adjusted earnings per share reached $2.83, up about 65% year over year and more than double the average analyst estimate.
GM earned its entire profit in North America last quarter, driven by a rebound in auto demand -- especially for high-margin full-size pickups -- and high auction values for used cars coming off lease at GM Financial. The same factors will likely lift the General to another strong profit this quarter.
Image source: General Motors.
Source Fool.com
