With the latest financial report on its Q3 earnings, General Motors is on track to posting an entire year’s worth of quarterly profits, an accomplishment that hasn’t been achieved since 2004.
Through the third quarter, General Motors was able to generate just over $34 billion in revenue, and a net income attributable to common stockholders of $2.0 billion (roughly $1.20 a share.) Total earnings before interest and tax (EBIT) totaled $2.3 billion. However, there is still much more to be done; and even though General Motors is on the right track in the United States, CEO Dan Akerson would like to see GM as a healthier company globally.
“We know we have much more work to do,” Akerson told the Detroit Free Press. “We still need to fix Europe. We continue to be vigilant in reducing costs in the enterprise, and we have just started doing a better job marketing our brands to consumers.”
Despite the long road ahead, we salute The General for its progress.
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