General Motors has released their third quarter results and investors were loving it as the company’s stock shot up nearly 10% to close at $53.73 per share. That’s nearly a 52-week high and the strong performance was fueled by an assortment of positive developments.
Jumping right into the numbers, the automaker reported third quarter revenues of $48.8 billion as well as a net income attributable to stockholders of $3.1 billion. This impressive performance pushed the company to raise their full year guidance as they’re now expecting diluted earnings per share in the range of $9.14 – $9.64, which is up from the previous estimate of $8.93 – $9.93. The company also expects their full year net income attributable to stockholders to be $10.4 billion – $11.1 billion, instead of $10.0 billion – $11.4 billion.
Read Article