GM: Q3 profit and sales down

(CercleFinance.com) - On Wednesday GM reported lower sales and profits for its third quarter, a period the carmaker described as "challenging" because of shortages in the semiconductor market.


Its net profit for July-September reached 2.4 billion dollars, or 1.62 dollar per share, a far cry from the 4 billion dollars posted a year ago.

Sales were also down about a quarter at 26.8 billion dollars, compared with 35.5 billion dollars in Q3 2020.

Analysts were expecting EPS of 0.96 dollar and revenue of 26.5 billion dollars.

After closing pretty flat yesterday, the share is down over 3% in pre-market trading today.


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