GM Sees Strong Full Year, Profit Races Past Expectations

[PavelP + 15]

General Motors Co (GM.N) on Wednesday posted far higher-than-expected quarterly profit and said its full-year earnings would come in at the high end of its forecast due to strong demand in North America, driven by its new pick-up trucks.GM shares jumped more than 8 percent in pre-market trading. The Detroit automaker was able to push through higher pricing, mostly in North America, allowing it to benefit by $1 billion in the quarter and offsetting higher commodity costs. Sales of the Chevrolet Tahoe, Suburban and GMC Yukon large SUVs rose about 12 percent, and the company increased production of the new Chevy Silverado and GMC Sierra full-size pickup trucks. “Overall, the print should be a relief to the market today,” RBC Capital Markets analyst Joseph Spak said in a research note. GM reported a profit of $2.5 billion in the third quarter.

Edited October 31, 2018 by PavelP

[rainman + 263]

GM going to get around to paying us back? They going to use that profit to design throttle body position sensors that don't dangerously shut down cars?

[ThunderBlade + 231]

All of those profits and they can't seem to find some way to reinvest enough in their research to increase their fuel economy? Why don't we just hand them another bailout check so they can give that to their board too?

[50 shades of black + 254]

If they soared beating by $0.62 cents what would you call Tesla that beat by $3.09?

[damirUSBiH + 327]

"Shares of General Motors Co. GM, +7.95% shot up 9.2% in premarket trade Wednesday, after the automaker reported third-quarter earnings and revenue that rose above expectations"

https://www.marketwatch.com/story/gms-stock-soars-over-9-after-big-profit-beat-2018-10-31?siteid=rss&utm_source=dlvr.it&utm_medium=twitter