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General Motors (GM) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
General Motors (GM) reported revenue of $44.0B for the first quarter 2025 (Q1 2025), +2% from a year earlier and -8% from the quarter before. Operating margin was 7.6%, net earnings $2.8B (6.3% of revenue).
General Motors, Q1 2025: revenue $44.0B (+2% year over year), operating margin 7.6%, net earnings $2.8B, operating cash flow $6.1B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $44.0B | -8% | +2% |
| Operating profit | $3.4B | +120% | -10% |
| Net earnings | $2.8B | — | -7% |
| Operating cash flow | $6.1B | +46% | +92% |
| Free cash flow | $4.2B | +368% | 12× |
What changed
Revenue was $44.0B in Q1 2025, up 2% year over year and down 8% from the previous quarter. Vehicle, parts and accessories was the largest line at 87% of revenue. Vehicle, parts and accessories added $0.60B year over year (up 2%), 60% of the total change. Services and other declined 4%.
Operating profit was $3.4B, a 7.6% margin (down 1.1 points year over year). Operating profit fell $0.39B even though revenue rose $1.0B versus a year earlier, so costs grew faster than sales. Total costs grew 4% against revenue growth of 2%. Net earnings were $2.8B, down 7% year over year. The effective tax rate was 20.1%.
Operating cash flow was $6.1B (up 92% year over year), 212% of net income including minority interests. Non-cash charges added back $2.9B of depreciation and amortization. Capital expenditures of $1.8B left free cash flow of $4.2B.
Questions
What was General Motors' revenue in the first quarter 2025?
General Motors (GM) reported revenue of $44.0B for the first quarter 2025 (Q1 2025), +2% from a year earlier and -8% from the quarter before.
Was General Motors profitable in the first quarter 2025?
Operating profit was $3.4B (7.6% of revenue) and net earnings $2.8B.
Source: General Motors 10-Q on SEC EDGAR.