New York (CNN Business) General Motors reported a huge jump in earnings compared to a year ago, bouncing back sharply from a steep loss in the second quarter during the pandemic. The largest US automaker posted earnings of $4.1 billion, excluding special items, up from $2.5 billion on that basis a year earlier. It was far better than the $2.1 billion that analysts had forecast -- and up 64% from the earnings GM posted in the third quarter a year ago. Revenue was essentially flat at $35.5 billion, matching forecasts. GM was able to maintain sales despite a 4% decline in the number of cars sold worldwide.

Source: CNN November 05, 2020 13:07 UTC