General Motors Company (NYSE:GM) announced financial updates for FY2015. As per the reports, the net income of GE attributed to common shareholders was $5.91 per share or $9.7 billion in total for the year against $1.65 per share or $2.8 billion in 2014.
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The earnings per share for the year was $5.02 as compared to $3.05 in 2014. EBIT for the entire year was $10.8 billion against $6.5 billion in 2014. Along with EBIT, GM also managed to report increased EBIT margin, which was 7.1% in 2015 as compared to 4.2% in 2014.
The senior management team of the company was delighted to announce these results and hoped that this performance would continue in the coming years as well. According to Mary Barra, CEO & Chairman, GM, the year 2015 proved to be adamant in terms of sales and revenues. Along with the company, shareholders also managed to earn significant returns. Barra added that GM would continue to work towards transforming personal mobility.
Special items put a positive impact on the overall earnings with the overall addition of $0.89 per share or $1.5 billion in total as compared to a loss of ($1.40) per share or ($2.4 billion) in 2014. When it comes to revenue part, GM reported $152.4 billion in 2015 as compared to $155.9 billion in 2014. The primary reason behind this negative growth’s nothing but the unfavorable currency exchange impact of $9.3 billion. If the exchange rate impact is sidelined, GM’s revenue in 2015 was $5.8 billion higher than 2014.
Based on the better-than-expected financial results, General Motors Company (NYSE:GM) has reaffirmed its expectations to touch EPS of $5.25-$5.75 in 2016.
Along with yearly results, it also reported 4Q2015 highlights, according to which the net income attributed to common share holders was $6.3 billion. EPS for the period was $1.39, whereas the EBIT was $2.8 billion. Going forward, it will look to improve these figures in 2016.