"GM earnings fall 37 percent in 4th quarter"
01-19-2005, 11:26 AM
#1
Suzuka Master
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"GM earnings fall 37 percent in 4th quarter"
DETROIT - General Motors Corp. reported Wednesday that it earned $630 million in the fourth quarter, down 37 percent from the $1.1 billion it earned during the final three months of 2003. Citing rising health care costs, the automaker said it would look for more cost cuts this year.
Total revenues for the last quarter of 2004 were up 4.7 percent at $51.2 billion.
The results included $597 million in expenses and special items accounting for a $61 million favorable effect. Excluding the special items, GM earned $569 million or $1.01 per share for the quarter, beating the 91 cents per share Wall Street estimate.
http://www.detnews.com/2005/autosins.../19/-64363.htm
Total revenues for the last quarter of 2004 were up 4.7 percent at $51.2 billion.
The results included $597 million in expenses and special items accounting for a $61 million favorable effect. Excluding the special items, GM earned $569 million or $1.01 per share for the quarter, beating the 91 cents per share Wall Street estimate.
http://www.detnews.com/2005/autosins.../19/-64363.htm
01-19-2005, 11:53 AM
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GM is a huge company. They will go through that money within a month.
Originally Posted by sauceman
Still, 569M$ in earning is a lot of money compared to what they should be getting if everybody was a consciencious buyer.
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