General Motors Company GM is a leading global automotive company in the U.S. General Motors has been gaining new contracts for business expansion. In In Mar 2016, General Motors and its new business partner Lyft Inc. announced that they are launching Express Drive, a short-term rental program mainly for Lyft drivers. This program is intended to bring in more drivers for the ride hailing service. The automaker is also focused on investment in innovative technologies and vehicles, which should provide sustained growth while maximizing shareholder value. The company will also benefit from its regular investments in the U.S to strengthen its operations and launch new and updated products.However, General Motors was forced to scale down or shut its manufacturing operations in some regions due to production constraints such as high costs and unfavorable currency translation effects. Moreover, General Motors is facing a challenging situation due to a delay in the recall of 2.6 million vehicles with defective ignition switches. Recently, the company also settled the third ignition switch case among the six defective ignition switch cases which were supposed to go on trial this year. This may weigh on the company’s financials. Recalls not only lead the company to incur costs, but also reduce its brand value.Estimate Trend & Surprise HistoryInvestors should note that the first-quarter earnings estimate for General Motors has decreased by a penny to 1.01 over the past 7 days.General Motors has delivered positive earnings surprises in the past. It surpassed the Zacks Consensus Estimate in 3 of the trailing 4 quarters with an average beat of around 12.10%. Thus, investors have been eagerly awaiting General Motors’ latest earnings report.We have highlighted some of the key stats from this just-revealed announcement below:EarningsGeneral Motors adjusted earnings increased 46.5% to $1.26 per share in the first quarter of 2016, significantly beating the Zacks Consensus Estimate of $1.01.RevenuesGeneral Motors reported revenues of $37.3 billion, 4.5% higher than $35.7 billion recorded in the year ago quarter. Revenues surpassed the Zacks Consensus Estimate of $34.9 billion.Key Stats/Developments to NoteYear to date through Mar 31, 2016, General Motors has returned around $0.9 billion to shareholders by repurchasing share of $0.3 billion and paying dividends of $0.6 billion.Zacks RankCurrently, General Motors has a Zacks Rank #3 (Hold), but that could change following its earnings report which has just released.Market ReactionGeneral Motors’ share price increased 2.70% to $33.06 in pre-market trading after the automaker released the third quarter results. It would be interesting to see how the market reacts to the results during the trading session today.Check back later for our full write up on General Motors’ earnings report!Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report GENERAL MOTORS (GM): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research