In a surprise to a lot of investors, General Motors (GM 0.10%) was one of the hottest auto stocks this week, rising as much as 11.8% before closing 11.4% higher for the week.This wasn't a speculative move either. GM reported better-than-expected earnings for the fourth quarter and sees a strong year ahead in 2024.GM's great quarterGM reported a 0.3% decline in quarterly revenue to $43.0 billion while diluted earnings per share improved to $1.59, which both beat analyst estimates. What really impressed inves ...

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Electric charging station David Taljat/iStock Editorial via Getty Images Investors cheered following the release of General Motors Company’s (NYSE:GM) fourth quarter financial results and the discussion of specifics with CEO Mary Barra, GM’s CFO Paul Jacobson and financial analysts. Shares immediately surged nearly 10% in value and have risen higher a day later. GM forecast 2024 adjusted pre-tax profits of $12 billion to $14 billion, compared to $12.4 billion reported for 2023. GM will hold capital spendi ...

General Motors announced Tuesday it will cut spending on its robotaxi unit Cruise in half, or by roughly $1 billion, in 2024 as it looks to refocus the unit after a pedestrian accident paused its driverless operations and several executives departed.  Last week, Cruise disclosed that the Justice Department and the Securities and Exchange Commission (SEC) are investigating the company after an October accident in which a Cruise robotaxi struck a pedestrian who had initially been hit by another vehicle in an ...

General Motors (GM) reported fourth-quarter 2023 adjusted earnings of $1.24 per share, which surpassed the Zacks Consensus Estimate of $1.12. The bottom line, however, decreased from the year-ago quarter’s level of $2.12. Revenues of $42.98 billion beat the Zacks Consensus Estimate of $40.78 billion but decreased from $43.1 billion recorded in the year-ago period.The U.S. auto giant recorded adjusted earnings before interest and taxes (EBIT) of $1.75 billion, lower than $3.79 billion in the prior-year quart ...

By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time.Access your favorite topics in a personalized feed while you're on the go. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewGM will sell hybrids in North America after all, CEO Mary Barra said Tuesday.On the company's fourth-quarter earnings call, Barra reversed course from GM's "all-in" electric vehicle strategy, sayi ...

ToplineGeneral Motors will halve its spending on Cruise—its self-driving car unit that faced criticism after a robotaxi dragged a pedestrian 20 feet in California last October—reducing it by around $1 billion, Reuters reported Tuesday.General Motors CEO Mary Barra said the company will continue to invest in people advancing Cruise’s ... [+] software, hardware and AI capabilities. (Photo by Smith Collection/Gado/Getty Images)Getty Images Key FactsGM CEO Mary Barra said the company’s “priorities and commitmen ...

Shares of General Motors (GM 6.91%) jumped by as much as 10.1% on Tuesday morning after the company reported fourth-quarter results. Shares gave back some of those gains, but were still up by 6.5% as of 11 a.m. ET.GM continues to performIn the quarter, GM reported $43.0 billion in revenue, $1.3 billion in adjusted automotive free cash flow, and $1.24 in earnings per share. Analysts had been expecting $39.5 million in revenue and earnings of $1.16 per share. For 2024, management is guiding for earnings per s ...

General Motors Company (NYSE:GM) Q4 2023 Earnings Conference Call January 30, 2024 8:30 AM ET Company Participants Ashish Kohli - Vice President of Investor Relations Mary Barra - Chair and Chief Executive Officer Paul Jacobson - Executive Vice President and Chief Financial Officer Dan Berce - President and Chief Executive Officer of GM Financial Conference Call Participants Itay Michaeli - Citigroup Rod Lache - Wolfe Research Dan Ives - Wedbush Joseph Spak - UBS Adam Jonas - Morgan Stanley John Murphy - Ba ...

For the quarter ended December 2023, General Motors Company (GM) reported revenue of $42.98 billion, down 0.3% over the same period last year. EPS came in at $1.24, compared to $2.12 in the year-ago quarter.The reported revenue represents a surprise of +5.40% over the Zacks Consensus Estimate of $40.78 billion. With the consensus EPS estimate being $1.12, the EPS surprise was +10.71%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to ...