General Motors Company Q1 Profit Increases, beats estimates

(RTTNews) - General Motors Company (GM) released a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $2.37 billion, or $1.69 per share. This compares with $1.99 billion, or $1.35 per share, in last year's first quarter.

Excluding items, General Motors Company reported adjusted earnings of $3.10 billion or $2.21 per share for the period.

Analysts on average had expected the company to earn $1.71 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.1% to $39.99 billion from $35.98 billion last year.

General Motors Company earnings at a glance (GAAP) :

-Earnings (Q1): $2.37 Bln. vs. $1.99 Bln. last year. -EPS (Q1): $1.69 vs. $1.35 last year. -Analyst Estimate: $1.71 -Revenue (Q1): $39.99 Bln vs. $35.98 Bln last year.