Washington, Feb. 2 (BNA): The US automaker General Motors’ profits fell in the fourth quarter from the same period last year, but still beat estimates, with hopes of steady earnings continuing.
The company’s earnings were $1.74 billion, or $1.16 per share. That compared to $2.85 billion, or $1.93 a share, in the fourth quarter of last year, German news agency DPA reported.
General Motors reported adjusted earnings of $1.99 billion, or $1.35 per share, for the period.
Analysts, on average, expected the company to earn $1.19 per share, according to figures compiled by Thomson Reuters.
The company’s third-quarter revenue fell 10.5% to $33.58 billion from $37.52 billion last year.
MI