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GM's third-quarter earnings beat estimates despite $1 billion strike cost

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GM Q3 earnings beat Wall Street expectations, reporting $1.72 per share vs. the expected $1.31.

Analysts will be interested in finding out additional details about how a 40-day strike by the United Auto Workers impacted the company's third-quarter earnings.

The national work stoppage – the longest since 1970 against GM – is estimated to have cost the automaker more than $2 billion in lost production.on Tuesday beat Wall Street expectations for the third-quarter but lowered its guidance for the year due to the United Auto Workers' 40-day strike against the automaker.

Here's what GM reported Wednesday compared to Wall Street's expectations, according to Refinitiv consensus estimates:Revenue: $35.47 billion vs. $33.82 billion expected.

 

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I have a 19 year old Vauxhall Corsa made by GM if that helps

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GM slated to report earnings before the bellAnalysts will be interested in finding out additional details about how a 40-day strike by the United Auto Workers impacted the company's third and fourth quarters and whether or not it was enough for GM to change its outlook for the year.
Source: CNBC - 🏆 12. / 72 Read more »