GM Announces 12% Decrease in Net Profit in the Third Quarter

On November 9, 2011, General Motors released its third quarter financial report. Except for a few items such as operating income, which have increased compared to the same period of last year, most other items, including net profit, have experienced various degrees of decline.

General Motors' operating revenue for the third quarter of this year was 36.719 billion U.S. dollars, up 7.8 percent from the previous year's 34.06 billion U.S. dollars; EBIT decreased from 2.3 billion U.S. dollars last year to 2.2 billion U.S. dollars; Net income last year 22.23 billion U.S. dollars slipped to 2.092 billion U.S. dollars, a year-on-year decrease of 5.9%; the conventional sense of "net profit", that is, net income attributable to common stock holders was 1.726 billion U.S. dollars, 1.959 billion U.S. dollars from the same period last year. Declined by 11.9%; diluted earnings per share fell from $1.20 last year to $1.03. (Note: The net profit of General Motors' official website PR draft has dropped from US$2 billion to US$1.7 billion, which is an approximate figure. This is based on the official website’s financial report.)

General Motors CEO Dan Exxon said: "Thanks to GM's leading position in North American and Chinese markets, we achieved relatively stable results in the third quarter. But stability does not mean good, even in the case of a global economic downturn. in this way."