General Motors (GM) Revenue — Quarter Ended Sep 30, 2023
General Motors reported a slight decline in revenue compared to the prior quarter, while revenue rose from the same period a year earlier. The year-over-year increase reflects sustained demand, although the sequential dip signals some moderation.
Key takeaway
Quarter ended Sep 30, 2023 · FY2023 Q3
General Motors reported a slight decline in revenue compared to the prior quarter, while revenue rose from the same period a year earlier. The year-over-year increase reflects sustained demand, although the sequential dip signals some moderation.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$40.5B
Revenue reported for this quarter.
Quarter-over-quarter
-1.8%
Change from the immediately preceding quarter.
Year-over-year
+4.6%
Change from the comparable year-ago quarter.
Trailing four quarters
$158.2B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2022 | $39.8B | +31.2% |
| Mar 31, 2023 | $36.6B | +11.6% |
| Jun 30, 2023 | $41.3B | +26.5% |
| Sep 30, 2023 | $40.5B | +4.6% |
Revenue performance
Net sales and revenue decreased modestly from the preceding quarter, but remained higher than the same quarter last year. The company’s automotive and GM Financial segments both contributed to the year-over-year growth.
Quarterly comparison
Revenue was down slightly when compared with the immediately preceding quarter, but up when measured against the same three-month period one year earlier. This continues a pattern of year-over-year expansion despite the short-term fluctuation.
What to watch
Investors should monitor the impact of one-time adjustments such as the Buick dealer strategy and voluntary separation program, which affected reported earnings in the quarter.