General Motors announced on Wednesday that its GAAP diluted earnings per share stood at $1.93 in the fourth quarter of 2020 on a net income of $2.8 billion. The figures compare to a loss per share of $0.16 and a loss of $232 million in the same quarter of 2019.
In the full-year 2020, GM's EPS declined 5.2% year on year to $4.33 and net income decreased by 5% over the same period to $6.2 billion.
"Chevrolet, GMC, Buick and Cadillac were especially well prepared when demand recovered faster than expected – Chevrolet and GMC with their outstanding full-size and midsize pickups; and all four brands with a mix of new small- and full-size SUVs, which we launched on time despite the pandemic. These products helped drive our largest year-over-year gain in total U.S. market share since 1990. Just as important, their profits are helping us create a new chapter for GM that is electric, connected, sustainable, inclusive and growth-oriented," CEO Marry Barra said.
GM shares were up in premarket trading, rising 1.09% at 7:45 am ET.
