General Motors Company Q1 Profit Decreases, but beats estimates

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

The company's bottom line came in at $2.94 billion, or $1.35 per share. This compares with $3.02 billion, or $2.03 per share, in last year's first quarter.

Excluding items, General Motors Company reported adjusted earnings of $2.09 per share for the period.

Analysts on average had expected the company to earn $1.68 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.8% to $35.98 billion from $32.47 billion last year.

General Motors Company earnings at a glance (GAAP) :

-Earnings (Q1): $2.94 Bln. vs. $3.02 Bln. last year. -EPS (Q1): $1.35 vs. $2.03 last year. -Analyst Estimates: $1.68 -Revenue (Q1): $35.98 Bln vs. $32.47 Bln last year.

-Guidance: Full year EPS guidance: Adj: $6.50 and $7.50