GM’s Q4 revenue drops 11% to $38 billion
General Motors Corp. announced on Tuesday its fourth-quarter revenue of $38 billion, decreasing 11% compared to the same period in 2020. Diluted earnings per share (EPS) stood at $1.16, dropping 40% annually. Net income fell by 39% to $1.7 billion.
For the full year 2021, revenue increased 3.7% to $127 billion compared to 2020, the EPS jumped 55% to $4.33, while net income added 67% to $10 billion.
“The company expects full-year 2022 net income to be in a range of $9.4 billion – $10.8 billion and EBIT-adjusted to be in a range of $13.0 billion – $15.0 billion, assuming continued steady demand for new vehicles and no significant new economic or supply chain challenges,” the company said in its report.
GM shares lost 1.61% aftermarket following the earnings release.
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