World News | GM Puts Up a Booming Third Quarter

Detroit (US), Nov 5 (AP) 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.

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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. (AP)

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)