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Dragon

GM roars past forecasts

7 posts in this topic

Dragon    0

http://money.cnn.com/2006/10/25/news/compa...dex.htm?cnn=yes

NEW YORK (CNNMoney.com) -- General Motors posted third quarter profit that nearly doubled Wall Street's earnings expectations.

The nation's No. 1 automaker earned $529 million, or 93 cents a share excluding special items, compared with a loss of $1.1 billion, or $1.92 a share on that basis a year earlier. Analysts surveyed by Briefing.com had forecast earnings of only 49 cents a share in the period.

gm_general_motors.03.jpg

GM (Charts) still reported a narrow loss on its core automotive operations, but shaved $1.3 billion of losses from those operations. Revenue from auto sales fell slightly short of forecasts, but overall revenue improved.

GM's report comes two days after competitor Ford Motor Co. (Charts) reported a bigger than expected loss. Honda Motor (Charts) also reported disappointing results Wednesday although it raised its full year guidance on strong U.S. sales. DaimlerChrysler (Charts) is also due to report results Wednesday morning, and losses at its Chrysler Group unit is expected to hit results there

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WCCPSGM    0

But how long can it last. The have to figure out how to make money on cars, not other stuff. The are a car company.

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Newbiewar    1

By the sounds of it, they are well on their way to turning a profit on cars too

208626[/snapback]

yea get the aura and the 08 malibu on the full scale...

Once they blow out all the GMT800 trucks... and get with the GMT900... profits will be scarry...

they raised the price and dropped all rebates...

when the GMT900 SUV's hit the market they started hitting revenue records... and now the silverado and seirra are out...?

GM's best selling vehicles are profitable again... and now they can focus for a year or two on cars...

i predict GM will have 1 or 2 more quarters of minor losses...

if GM sells 1 million silverados at 4000-5500 rebate....

then sells 1 million silverados at 0 rebate... thats 4+ billion...

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Matt276    0

yea get the aura and the 08 malibu on the full scale...

Once they blow out all the GMT800 trucks... and get with the GMT900... profits will be scarry...

they raised the price and dropped all rebates...

when the GMT900 SUV's hit the market they started hitting revenue records... and now the silverado and seirra are out...?

208655[/snapback]

And don't forget the Outlook/Acadia. They should bring in good money.

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turbo200    6

yea get the aura and the 08 malibu on the full scale...

Once they blow out all the GMT800 trucks... and get with the GMT900... profits will be scarry...

they raised the price and dropped all rebates...

when the GMT900 SUV's hit the market they started hitting revenue records... and now the silverado and seirra are out...?

GM's best selling vehicles are profitable again... and now they can focus for a year or two on cars...

i predict GM will have 1 or 2 more quarters of minor losses...

if GM sells 1 million silverados at 4000-5500 rebate....

then sells 1 million silverados at 0 rebate... thats 4+ billion...

208655[/snapback]

how is interest and reactions going at your dealer for the 900 pickups?

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