GM posts loss on non-cash charge, but beats estimates
Reuters|
Feb 06, 2018, 07.23 PM IST
DETROIT: General Motors Co on Tuesday posted a loss due to a $7 billion non-cash charge related to deferred tax assets, but excluding items reported earnings well above Wall Street expectations.
The No. 1 U.S. automaker reported a fourth-quarter loss of $4.9 billion or $3.46 per share, compared with a profit of $2.1 billion or $1.36 per share a year earlier.
Excluding one-time items, GM posted earnings per share of $1.65. On that basis analysts had expected earnings per share of $1.38.
The No. 1 U.S. automaker reported a fourth-quarter loss of $4.9 billion or $3.46 per share, compared with a profit of $2.1 billion or $1.36 per share a year earlier.
Excluding one-time items, GM posted earnings per share of $1.65. On that basis analysts had expected earnings per share of $1.38.
