GM easily beats earnings expectations and offers upbeat outlook

Shares of General Motors Co. GM, -4.37% were up more than 4% in premarket activity Tuesday after the car company easily topped expectations with its fourth-quarter results and issued an upbeat profit forecast. The company logged net income of $2.00 billion, or $1.39 a share, compared with $1.74 billion, or $1.16 a share, in the year-prior period. On an adjusted basis, GM earned $2.12 a share, up from $1.

35 a share a year before, while analysts were modeling $1.69 a share. Revenue rose to $43.11 billion from $33.58 billion, while the FactSet consensus was for $39.96 billion. For the full year, GM anticipates adjusted earnings per share of $6.00 to $7.00, whereas the FactSet consensus was for $5.57 a share. The company also announced that it would work with Lithium Americas Corp. LAC, -2.27% to jointly invest in development of the Thacker Pass lithium mine in Nevada.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Lithium Americas stock rises on GM’s $650 million equity investmentLithium Americas Corp. stock was up 9.2% in premarket trading Tuesday after it said General Motors Co. agreed to invest $650 million in the company to help...
La source: MarketWatch - 🏆 3. / 97 Lire la suite »

General Motors is set to report earnings before the bell. Here's what Wall Street expectsThe auto industry's earnings and forecasts are being closely watched by Wall Street for any signs of weakening consumer demand.
La source: CNBC - 🏆 12. / 72 Lire la suite »