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
Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.
Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance and forecasts are not reliable indicators of future results.