GM stock rises on Q1 earnings beat, raised outlook

General Motors Co. GM stock rose 3.6% in premarket trades Tuesday, after the car giant reported better-than-expected first-quarter results and raised its outlook. The car maker earned $1.69 a share on net income of $2.395 billion, compared with earnings of $1.35 a share and net income of $2.939 billion in the prior year’s quarter. On an adjusted basis, GM earned $2.21 a share, compared with $2.09 a share in the same period last year, and above the FactSet consensus of $1.72 a share.

35 a share and net income of $2.939 billion in the prior year’s quarter. On an adjusted basis, GM earned $2.21 a share, compared with $2.09 a share in the same period last year, and above the FactSet consensus of $1.72 a share. The company’s revenue was $39.985 billion, up from $35.979 billion a year ago. Analysts surveyed by FactSet were looking for revenue of $38.550 billion. GM also raised its outlook. On an adjusted basis, GM now expects full-year net income of $8.4 billion to $9.

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General Motors is set to report earnings before the bell. Here's what Wall Street expectsGM CFO Paul Jacobson earlier this month said the first quarter was coming in 'right alongside' the company's expectations, noting sales were up 18%.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »