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General Motors Q3 profit climbs 31.5% YOY

General Motors Co. said its third-quarter normalized net income came to $1.17 per share, compared with the S&P Capital IQ consensus estimate of $1.18 per share.

EPS rose 37.5% year over year from 85 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.90 billion, an increase of 31.5% from $1.44 billion in the prior-year period.

The normalized profit margin rose to 4.9% from 3.7% in the year-earlier period.

Total revenue declined year over year to $38.84 billion from $39.26 billion, and total operating expenses decreased from the prior-year period to $36.35 billion from $37.63 billion.

Reported net income fell year over year to $1.36 billion, or 84 cents per share, from $1.38 billion, or 81 cents per share.