US carmaker General Motors fourth quarter profit decreased from the same period last year, but still beat estimates, with hopes for steady earnings ahead.
The company's earnings came in at $1.74 billion, or $1.16 per share. This compares with $2.85 billion, or $1.93 per share, in last year's fourth quarter.
General Motors Company reported adjusted earnings of $1.99 billion or $1.35 per share for the period. Analysts, on average, had expected the company to earn $1.19 per share, according to figures compiled by Thomson Reuters.
The company's revenue for the quarter fell 10.5% to $33.58 billion, from $37.52 billion last year.
General Motors Company earnings at a glance:
-Earnings (Q4): $1.74 billion vs $2.85 billion last year
-EPS (Q4): $1.16 vs $1.93 last year
-Analyst Estimates: $1.19
-Revenue (Q4): $33.58 billion vs $37.52 billion last year.
Source: DPA
