Boston, MA 11/01/2013 (wallstreetpr) – General Motors Company (NYSE:GM) continue to do well in the market after the hard felt economic meltdown. The mega car manufacturing company in the US recorded adjusted earnings for the third quarter at a high of $1.6 billion or 96 cents a share. The company recorded excellent results in all its business operations in the third quarter with only international operations performing slightly below per. Revenues in the third quarter grew by 3.7% to clock at $39 billion an improvement compared to Zacks Consensus estimates of $38.7 billion.
Worldwide sales of vehicles grew by 0.5% enabling the company to sell 1.6 million cars with worldwide wholesale units rising by 5.5% to a high of 2.4 million vehicles. General Motors worldwide market share improved slightly to 11.7% from 11.6% the same quarter a year ago. The company adjusted earnings for the third quarter grew by 13% to clock a high of $2.6 billion from $2.3 billion Q3 F2012. The company operating profit grew by 40.7% from $1.6billion a year ago the. GM reported earnings rise of 5.2% to clock revenues of $23.5 billion with its adjusted EBIT increasing by 29.4% to $2.2 billion.
Q3 saw General Motors accumulating cash and cash equivalent of $20.4 billion compared to cash net of $18.4 billion on December 31 2012. During the third quarter the company was able to post cash flow of $3.3 billion from its main automotive operations an increase from $3.1 billion that was posted the same quarter a year ago. The company free cash flow stood at $1.3 billion after deducting its capital expenditure that totaled $1.9 billion. The only bad news out of General Motors at the moment is the $9.7 billion loss that the US government is reporting out of the company. The US Government had bailed the company in 2009 for a total of $49.5 billion.
