General Motors Reports Strong Q3 Earnings Growth
General Motors Reports Strong Q3 Earnings Growth
General Motors Reports Strong Q3 Earnings Growth
News summary

General Motors (GM) reported strong third-quarter results, with revenue reaching $48.8 billion, a 10.5% increase year-on-year, surpassing Wall Street's expectations. The company achieved an adjusted earnings per share of $2.96, significantly higher than analyst predictions. Despite a 2% decline in overall vehicle deliveries, retail sales rose by 3%, reflecting robust consumer demand for GM’s high-margin gasoline-engine trucks and SUVs. Challenges persist in China, where GM's joint venture reported a $137 million loss, prompting plans for restructuring. GM raised its full-year earnings forecast to $14-$15 billion in pretax profit, driven by strong pricing and cost management. CEO Mary Barra emphasized a focus on optimizing internal combustion engine margins and advancing electric vehicle profitability, amid a competitive and evolving industry landscape.

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Right 43%
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1
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3
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Last Updated
24 min ago
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43% Right
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