General Motors has reported a record net income of $9.7 billion after selling 9.8 million vehicles in 2015.
The company’s earnings attributable to common stockholders reached $5.91 per diluted share last year compared to $1.65 per diluted share in 2014. Alongside this significant increase, full-year earnings before interest and tax soared to $10.8 billion, well above the $6.5 billion recorded in 2014.
While income and earnings increased, net revenue fell slightly from $155.9 billion to $152.4 billion because of exchanges rates. The company says if it experienced the same exchange rates as it did in 2014 throughout 2015, revenue would have been $5.8 billion higher.
Discussing the results, GM chairman and chief executive Mary Barra said: “It was a strong year on many fronts, capped with record sales and earnings, and a substantial return of capital to our shareholders. We continue to strengthen our core business, which is laying the foundation for the company to lead in the transformation of personal mobility. We believe the opportunities this will create in connectivity, autonomous, car-sharing and electrification will set the stage for driving value for our owners for years to come.”
The record come despite the fact that, late last year, $594.5 million worth of compensation were handed out to 399 cases relating to its ignition switch issue.
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