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General Motors Q3 profits top estimates despite strike hit
![IndiaTimes]()
Tuesday, 24 October 2023
General Motors (GM) reported better-than-expected quarterly profits despite a labor strike that began late in the quarter. The company's third-quarter profits were $3.1 billion, down seven percent from the previous year but higher than analyst estimates. Revenues rose five percent to $44.1 billion. The strike, which has been ongoing for nearly six weeks, has cost GM $200 million during the quarter and is expected to have a $600 million impact in the fourth quarter. GM's CEO remains optimistic about resolving the strike.
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Tuesday, 24 October 2023
