"GM beats on Q3 earnings, raises profit forecast for 3rd time this year"

From Yahoo Finance, October 22:

General Motors (GM) gave investors something to cheer early Tuesday morning after the automaker raised its guidance for a third time this year, in addition to easily beating third quarter revenue and profit expectations.

For the quarter, GM reported revenue of $48.78 billion, easily topping estimates of $44.69 billion per Bloomberg consensus, and higher than the prior quarter's nearly $48 billion. GM's Q3 revenue was also 10.5% higher than a year ago.

The company booked adjusted EPS (earnings per share) of $2.96, far outstripping expectations of $2.44. It reported EBIT-adjusted profit of $4.115 billion, up 15.5% from a year ago, with EBIT-adjusted margin climbing to 8.4% from 8.1% year over year.

GM shares rose around 2% in premarket trading on the heels of the earnings report.

In terms of guidance, GM made the following upward revisions to its full-year 2024 forecast....

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