GM Earnings Beat Estimates With Record North American Profit
- Biggest U.S. automaker maintains profits in China with Buick
- Company effectively broke even in Europe where sales rose most
What's Driving GM's Record Profits?
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General Motors Co.’s first-quarter earnings and sales beat analysts’ estimates by a wide margin as it posted record results in North America and stepped toward a 15-year goal of ending losses in Europe.
Net income more than doubled to $2 billion and adjusted profit rose to $1.26 a share, GM said in a statement Thursday, exceeding the 99-cent average estimate in a Bloomberg survey of analysts. Revenue increased $1.6 billion to $37.3 billion, topping the $35.6 billion average estimate, even as GM sold fewer vehicles worldwide.