The fourth quarter earnings season kicks into high gear this week, with Big Tech results from Microsoft (MSFT), Meta (META), Tesla (TSLA), and Apple (AAPL) headlining the earnings calendar. An optimistic consensus is forming: As of Jan. 23, 13% of S&P 500 (^GSPC) companies have reported fourth quarter results, according to FactSet data, and Wall Street analysts estimate an 8.2% increase in earnings per share for the fourth quarter. If that rate holds, it would represent the 10th consecutive quarter of ann ...

GM earnings beat shines through EV pullback and China restructuring | Invezz false### Choose your country### Choose preferred languagePopular languagesAll available languages# GM earnings beat shines through EV pullback and China restructuringWritten byDiya P.Edited byUtkarsh R.Written on Jan 27, 2026Reading time 3 minutesGeneral Motors ended the fourth quarter with stronger-than-expected earnings.The Detroit automaker beat Wall Street profit estimates, lifted shareholder payouts, and issued guidance pointi ...

盘前市场动向 1. 1月27日(周二)美股盘前，美股三大股指期货涨跌不一。截至发稿，道指期货跌0.48%，标普500指数期货涨0.23%，纳指期货 涨0.60%。 | = US 30 | 49,173.90 | 49,414.60 | 49.147.60 | -238.50 | -0.48% | | --- | --- | --- | --- | --- | --- | | = US 500 | 6,966.50 | 6.977.70 | 6.943.20 | +16.20 | +0.23% | | 트 US Tech 100 | 25,867.40 | 25,916.20 | 25,714.80 | +154.20 | +0.60% | 2. 截至发稿，德国DAX指数跌0.12%，英国富时100指数涨0.36%，法国CAC40指数涨0.37%，欧洲斯托克50指数涨0.29%。 | 德国DAX30 | 24,921.39 | 25,023.13 | 24,866.73 | -28.91 | -0.12% | | --- | --- | --- | --- | --- | --- | | 瑞 英国富时100 | ...

Group 1 - U.S. stock index futures show mixed performance, with Nasdaq futures up 0.63% and S&P 500 futures up 0.25%, while Dow futures are down 0.44% [1] - Major European indices also display mixed results, with Germany's DAX down 0.09%, UK's FTSE 100 up 0.35%, France's CAC up 0.37%, and the Euro Stoxx 50 up 0.28% [1] - The Federal Reserve officials expect to pause interest rate cuts this week, with an unclear path for future cuts [1] Group 2 - Samsung Electronics and SK Hynix are negotiating with Apple to significantly increase the price of LPDDR memory used in iPhones, with a potential increase of up to 100% [2] Group 3 - The European Union has initiated two compliance procedures to ensure Google meets its obligations under the Digital Markets Act [3] Group 4 - Microsoft has received approval to build 15 additional data centers in Wisconsin, USA [4] Group 5 - Micron Technology is investing $24 billion to expand production in Singapore to address AI chip shortages [5] - Synopsys CEO anticipates that the price increase and shortage of memory chips will persist until 2027 [5] Group 6 - Nike is reportedly planning to lay off 775 employees to enhance profitability and accelerate automation [6] Group 7 - Alibaba has officially launched its flagship reasoning model Qwen3-Max-Thinking, which is noted for its stronger initiative and proficiency in logical reasoning [7] Group 8 - XPeng Motors' CEO expects "very strong" growth this year, with overseas sales growth potentially surpassing that of the domestic market [8] Group 9 - VinFast is collaborating with AI company Autobrains to develop autonomous driving technology [9] Group 10 - The U.S. Treasury has terminated its contract with consulting firm Booz Allen, related to the leak of tax records for Trump and Musk [10] Group 11 - UnitedHealth reported Q4 revenue of $113.215 billion, with adjusted EPS down 69.02% year-over-year to $2.11 [11] - General Motors reported Q4 revenue of $45.29 billion, with a loss of $3.31 billion; the company approved a $6 billion stock buyback plan [12] - American Airlines reported Q4 adjusted EPS of $0.16, which was below expectations, and anticipates a revenue decrease of $150 million to $200 million due to winter storms [13] - Raytheon Technologies reported a 12% year-over-year increase in Q4 sales to $24.24 billion, with adjusted EPS of $1.55, exceeding expectations [14]

Financial Performance - General Motors reported a full-year 2025 net income attributable to stockholders of $2.7 billion, down 55.1% from $6.0 billion in 2024[4][11]. - The fourth-quarter 2025 net income was a loss of $3.3 billion, impacted by over $7.2 billion in special charges related to electric vehicle capacity realignment[2][11]. - GM's 2026 guidance projects net income attributable to stockholders between $10.3 billion and $11.7 billion, indicating a significant recovery[4][18]. - The company achieved EBIT-adjusted of $12.7 billion in 2025, with a 2026 guidance range of $13.0 billion to $15.0 billion[4][18]. - Automotive operating cash flow for 2025 was $18.7 billion, with a projected range of $19.0 billion to $23.0 billion for 2026[4][18]. - The company reported a revenue of $185.0 billion for 2025, a decrease of 1.3% from $187.4 billion in 2024[11]. - Operating income for 2025 was $2.91 billion, down from $12.78 billion in 2024, representing a decrease of 77.2%[21]. - Net income attributable to stockholders for 2025 was $2.70 billion, a decrease of 55.1% from $6.01 billion in 2024[24]. - Basic earnings per common share for the year ended December 31, 2025, were $3.33, down from $6.45 in 2024, a decline of 48.8%[24]. - The company reported total costs and expenses of $182.11 billion for 2025, an increase of 4.3% from $174.66 billion in 2024[21]. Cash Flow and Investments - Adjusted automotive free cash flow for 2025 was $10.6 billion, with a guidance range of $9.0 billion to $11.0 billion for 2026[4][18]. - Cash flows from operating activities increased to $26,867 million in 2025, compared to $20,129 million in 2024, reflecting a growth of approximately 33.5%[34]. - The company reported expenditures for property of $9,303 million in 2025, down from $10,830 million in 2024, indicating a reduction of about 14.1%[34]. - The net cash provided by (used in) investing activities was $(16,134) million in 2025, compared to $(20,517) million in 2024, showing an improvement of approximately 21.1%[34]. - The net cash provided by (used in) financing activities was $(9,590) million in 2025, a decrease from $(8,501) million in 2024, indicating a worsening of about 12.8%[34]. Shareholder Returns - GM announced a quarterly dividend increase of 20% to $0.18 per share, payable on March 19, 2026[5][6]. - A new $6.0 billion share repurchase authorization was approved, reflecting GM's commitment to returning capital to shareholders[6]. Assets and Liabilities - Total current assets increased to $108.767 billion in 2025 from $108.545 billion in 2024, reflecting a growth of 0.2%[28]. - Total liabilities rose to $218.116 billion in 2025, up from $214.171 billion in 2024, indicating an increase of 1.4%[28]. - Total stockholders' equity decreased to $61.119 billion in 2025 from $63.072 billion in 2024, a decline of 3.1%[28]. - Cash and cash equivalents increased to $20.945 billion in 2025 from $19.872 billion in 2024, a growth of 5.4%[28]. - Long-term debt for Automotive increased to $15.591 billion in 2025 from $13.327 billion in 2024, a rise of 16.9%[28]. Market Performance - GM's wholesale vehicle sales volume was 3,799 thousand units, a decrease from 4,010 thousand units in 2024, representing a decline of 5.3%[65]. - Total vehicle sales in North America for the year ended December 31, 2025, were 3,361 thousand units, an increase from 3,215 thousand units in 2024, reflecting a growth of 4.5%[67]. - GM's total vehicle sales worldwide for the year ended December 31, 2025, were 6,182 thousand units, compared to 6,003 thousand units in 2024, reflecting a growth of 3.0%[67]. - GM's market share in the United States for the three months ended December 31, 2025, was 17.2%, slightly down from 17.4% in the same period of 2024[67]. Operational Metrics - The company recognized depreciation, amortization, and impairment charges on property of $9,646 million in 2025, up from $7,545 million in 2024, representing an increase of approximately 28.0%[34]. - The effective tax rate for the year ended December 31, 2025, was 18.9%, compared to 20.1% in 2024[59]. - GM North America reported EBIT of $2.2 billion for the three months ended December 31, 2025, slightly down from $2.3 billion in 2024[56]. - The return on equity (ROE) for the year ended December 31, 2025, was 4.2%, a decrease from 8.7% in 2024[60].

（文章来源：第一财经） 通用汽车盘前涨超5%，第四季度营收452.9亿美元，上年同期477.02亿美元，预计2026年调整后每股收 益为11美元至13美元。公司批准新的60亿美元股票回购授权。 ...

格隆汇1月27日｜通用汽车(GM.US)盘前拉升转涨，目前涨幅扩大至6.3%，公司四季度核心利润高于预 期。 ...

格隆汇1月27日｜通用汽车(GM.US)盘前跌1.1%。消息面上，通用汽车四季度营收452.9亿美元，低于市 场预期的454.13亿美元。 ...

通用汽车(GM.N)四季度营收452.9亿美元，上年同期477.02亿美元，市场预期454.13亿美元。 本文源自：金融界AI电报 ...

Core Insights - The automaker achieved adjusted operating income that met Wall Street expectations, indicating stable financial performance despite market challenges [1] Summary by Categories Financial Performance - The company reported adjusted operating income in line with Wall Street expectations, suggesting effective cost management and operational efficiency [1]