GM puts up a booming third quarter

General Motors is posting huge third quarter numbers, pulling in USD 4 billion in profit over three months after losing money due to the virus outbreak. The profit reversed an USD 806 million loss posted by GM in the second quarter as the company restarted factories that were shuttered by the novel coronavirus.

General Motors is posting huge third quarter numbers, pulling in USD 4 billion in profit over three months after losing money due to the virus outbreak. GM's adjusted earnings were USD 2.83 per share, easily outpacing Wall Street's per-share projections of USD 1.72, according to a survey by FactSet. Revenue of USD 35.5 billion also edged out most expectations.

Shares jumped almost 5 per cent before the opening bell Thursday. The profit reversed an USD 806 million loss posted by GM in the second quarter as the company restarted factories that were shuttered by the novel coronavirus.