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General Motors surges after Q3 earnings reveal

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Miguel A. Rodriguez
Miguel A. Rodriguez
27 October 2021
The automotive manufacturing company reported better-than-expected third-quarter 2021 figures

General Motors revealed quarterly results that topped Wall Street’s consensus. Its adjusted earnings per share came in at $1.52, significantly higher than the 96 cents previously estimated, while revenue came in at $26.78 billion.

The results were expected to be rougher than the first half of the year for General Motors. On the other hand, analysts said they expected relatively solid results despite the global semiconductor shortage that depleted vehicle inventories and shuttered plants.

For the future, General Motors is looking for revenues as high as $13.5 billion, or $6.40 per share. Moreover, the carmaker warned investors that its North American wholesale volumes would decrease by 200,000 units in the second half of 2021.

After the news hit the wires, General Motors stock price jumped more than 3%. The share price has been up 37.5% since the beginning of the year, disregarding the recent move, outperforming the USA500, which gained 21.8% year-to-date.

Source: cnbc.com, investing.com

This information/research prepared by Andreas Thalassinos does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.