Demand for trucks powers General Motors' better-than-expected profit in Q3

General Motors Co. reported a better-than-expected profit in the third quarter as strong demand for trucks powered its recovery from a slump in sales earlier this year.

The automaker said adjusted earnings per share came to $2.83 in the quarter, beating an analyst consensus estimate for $1.45 a share. That was up from $1.72 a year ago and better than the second quarter, when GM posted its first loss in more than a decade.

GM swung back into the black as its plants resumed production following a six-week springtime shutdown due to the coronavirus and as more pandemic-weary buyers snapped up vehicles