General Motors Co. (NYSE: GM) today reported a solid profit in the third quarter due to good performance in North America and significant progress in the implementation of initiatives on restructuring costs, partially kompensiruet the influence of strikes in the United States.
Revenue of General Motors in the third quarter amounted to 35.5 billion, which is 0.9% lower than in the third quarter of last year. The profit of the company amounted to $ 2.3 billion, or 8.7% less, than year before. In addition, the company noted that the losses in the third quarter due to the strike of the workers amounted to $ 1 billion.
the Strike took place from 16 September to 25 October and has become the longest in the history of General Motors over the past 50 years.
the Company expects that by the end of 2019 losses from the strike will exceed $ 2.9 billion, which is above the projected 2 billion.
in Spite of major losses from the strike, after the publication reporting the shares of General Motors rose by 5%.
General Motors, its subsidiaries and joint ventures to sell cars under the brands of Cadillac, Chevrolet, Baojun, Buick, GMC, Holden, Jiefang, and Wuling .
