Las Vegas Sun

March 29, 2024

Automaker’s profit declines

THE ASSOCIATED PRESS

DETROIT -- General Motors Corp. said today its third quarter earnings fell 5.5 percent as losses in Europe more than offset higher North American profits.

The world's largest automaker earned $829 million, or $1.55 a share, in the July-September period compared to $877 million, or $1.33 a share, in 1999. Profits per share increased as GM continued a stock buyback program.

The results were a penny a share higher than the average estimate from 18 Wall Street analysts of $1.54 a share, according to a survey by First Call/Thomson Financial.

Revenues totaled $42.6 billion, down slightly from last year's third quarter total of $42.8 billion.

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