General Motors Company Q1 Profit Increases, beats estimates

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

The company's earnings totaled $2.97 billion, or $2.56 per share. This compares with $2.37 billion, or $1.69 per share, in last year's first quarter.

Excluding items, General Motors Company reported adjusted earnings of $3.04 billion or $2.62 per share for the period.

Analysts on average had expected the company to earn $2.14 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.6% to $43.01 billion from $39.99 billion last year.

General Motors Company earnings at a glance (GAAP) :

-Earnings (Q1): $2.97 Bln. vs. $2.37 Bln. last year. -EPS (Q1): $2.56 vs. $1.69 last year. -Revenue (Q1): $43.01 Bln vs. $39.99 Bln last year.

-Guidance: Full year EPS guidance: $8.94 - $9.94