Salem Radio Network News Monday, March 27, 2023


GM 4Q earnings rise 16% as sales rebound at end of last year


( ) -q-26- UNDATED (Correspondent Jeremy House) “the Federal Reserve.”

Rising factory output led to strong U.S. sales at the end of last year, pushing General Motors’ fourth-quarter net income up 16% over the same period a year ago.

[CutID: <Cuts> GM-PROFITS-house-q-TUEam.mp3
Time: 26s
Title: GM-PROFITS-house-q-TUEam
Out-cue: the Federal Reserve]

TAG: Correspondent Jeremy House reporting. GM and other automakers had trouble keeping factories running at full output during 2022.

VERBATIM: The Detroit automaker says it made $1.99 billion from October through December, or an adjusted $2.12 per share. That number beat Wall Street estimates. Quarterly revenue rose 28% to $43.1 billion, also beating estimates of $39.96 billion. The performance came against the backdrop of a slowing economy due to interest rate increases from the Federal Reserve.

Editorial Cartoons

View More »

Steve Breen
Mon, Mar 20, 2023