General Motors released its third-quarter earnings results Oct. 25. Here are the key takeaways.
The Quarter in a Snapshot
The automaker that owns the Chevrolet, Buick, GMC and Cadillac brands reported a $15 billion gain in revenue to $42 billion compared with the year-ago quarter, as parts constraints loosened and new-vehicle inventory improved.
GM said its net income rose to $3.3 billion compared with $2.4 billion. But note that in the year-ago quarter, GM saw net income plummet 40% as it struggled with production constraints from a global shortage of chips used in car parts that resulted in thin new car inventory.
For the third quarter, GM reported adjusted earnings before interest and taxes (EBIT) at $4.3 billion up from $3 billion a year ago.
